Blueshift Asset Management LLC Takes $573,000 Position in First Solar, Inc. (NASDAQ:FSLR)

Blueshift Asset Management LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,252 shares of the solar cell manufacturer’s stock, valued at approximately $573,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Clear Harbor Asset Management LLC boosted its stake in shares of First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares during the period. Doliver Advisors LP boosted its stake in shares of First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after purchasing an additional 56 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Independent Advisor Alliance boosted its stake in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after purchasing an additional 63 shares during the period. Finally, Mutual Advisors LLC lifted its stake in First Solar by 5.3% in the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. The trade was a 67.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now directly owns 109,000 shares in the company, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.58% of the company’s stock.

First Solar Trading Down 0.7 %

Shares of NASDAQ:FSLR opened at $128.46 on Friday. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock’s 50-day simple moving average is $157.42 and its two-hundred day simple moving average is $188.89. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FSLR. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. UBS Group dropped their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Guggenheim lowered their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $262.08.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.