Decade Renewable Partners LP Increases Holdings in First Solar, Inc. (NASDAQ:FSLR)

Decade Renewable Partners LP lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 259.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,421 shares of the solar cell manufacturer’s stock after acquiring an additional 47,221 shares during the quarter. First Solar makes up 5.6% of Decade Renewable Partners LP’s holdings, making the stock its 5th biggest holding. Decade Renewable Partners LP owned about 0.06% of First Solar worth $11,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in FSLR. Quarry LP grew its stake in First Solar by 71.5% during the 4th quarter. Quarry LP now owns 18,930 shares of the solar cell manufacturer’s stock valued at $3,336,000 after purchasing an additional 7,889 shares during the last quarter. Boothbay Fund Management LLC lifted its holdings in First Solar by 87.0% during the 4th quarter. Boothbay Fund Management LLC now owns 1,522 shares of the solar cell manufacturer’s stock worth $268,000 after buying an additional 708 shares in the last quarter. Virtus ETF Advisers LLC lifted its position in shares of First Solar by 43.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,617 shares of the solar cell manufacturer’s stock valued at $990,000 after acquiring an additional 1,712 shares during the period. Capital Analysts LLC lifted its position in First Solar by 22.4% during the fourth quarter. Capital Analysts LLC now owns 706 shares of the solar cell manufacturer’s stock valued at $124,000 after buying an additional 129 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of First Solar by 14.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 21,059 shares of the solar cell manufacturer’s stock worth $3,711,000 after purchasing an additional 2,589 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 in the last quarter. Company insiders own 0.48% of the company’s stock.

First Solar Trading Up 4.0 %

Shares of FSLR opened at $141.86 on Monday. The company has a market capitalization of $15.21 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The stock has a fifty day moving average of $133.46 and a two-hundred day moving average of $168.44.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FSLR. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research report on Thursday, February 27th. Guggenheim cut their target price on First Solar from $304.00 to $253.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Barclays lowered their target price on First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Piper Sandler cut their price target on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price objective (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.96.

First Solar Profile

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.