Leisure Capital Management Acquires New Holdings in First Solar, Inc. (NASDAQ:FSLR)

Leisure Capital Management purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the first quarter, HoldingsChannel.com reports. The fund purchased 8,716 shares of the solar cell manufacturer’s stock, valued at approximately $1,102,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank raised its stake in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock valued at $90,000 after buying an additional 68 shares in the last quarter. Evexia Wealth LLC increased its stake in First Solar by 2.1% in the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock valued at $586,000 after acquiring an additional 70 shares during the period. Covestor Ltd raised its position in First Solar by 8.4% in the fourth quarter. Covestor Ltd now owns 993 shares of the solar cell manufacturer’s stock worth $175,000 after purchasing an additional 77 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in First Solar by 0.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer’s stock worth $1,435,000 after purchasing an additional 82 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its holdings in First Solar by 4.3% during the first quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer’s stock valued at $284,000 after purchasing an additional 92 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FSLR. Guggenheim lowered their price objective on First Solar from $253.00 to $202.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Susquehanna upped their price target on First Solar from $203.00 to $222.00 and gave the company a “positive” rating in a research report on Friday. Piper Sandler cut their price objective on First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Jefferies Financial Group set a $194.00 target price on shares of First Solar and gave the company a “buy” rating in a research note on Tuesday, July 15th. Finally, Oppenheimer cut shares of First Solar from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus price target of $221.90.

First Solar Stock Down 0.3%

FSLR stock opened at $183.42 on Tuesday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The business’s 50 day simple moving average is $166.31 and its 200 day simple moving average is $152.83. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $19.67 billion, a PE ratio of 15.69, a PEG ratio of 0.35 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.25 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer owned 8,037 shares in the company, valued at $1,246,136.85. This trade represents a 54.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the business’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares of the company’s stock, valued at approximately $791,640. The trade was a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock worth $2,515,172 in the last ninety days. 0.48% of the stock is owned by company insiders.

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.