Guinness Atkinson Asset Management Inc Sells 360 Shares of First Solar, Inc. $FSLR

Guinness Atkinson Asset Management Inc reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,399 shares of the solar cell manufacturer’s stock after selling 360 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in First Solar were worth $563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. increased its holdings in shares of First Solar by 3.9% during the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer’s stock worth $210,000 after buying an additional 63 shares in the last quarter. Legend Financial Advisors Inc. grew its position in First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer’s stock worth $598,000 after acquiring an additional 64 shares during the last quarter. Harrington Investments INC grew its position in First Solar by 0.5% during the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer’s stock worth $2,198,000 after acquiring an additional 65 shares during the last quarter. Energy Income Partners LLC increased its holdings in First Solar by 0.8% during the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer’s stock valued at $1,170,000 after purchasing an additional 72 shares in the last quarter. Finally, Horizon Investments LLC raised its position in First Solar by 5.1% in the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer’s stock valued at $194,000 after purchasing an additional 74 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 5.4%

Shares of NASDAQ FSLR opened at $241.41 on Monday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $248.04. The firm’s 50-day moving average is $215.24 and its 200-day moving average is $179.22. 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 $25.89 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $3.25 earnings per share. First Solar’s revenue for the quarter was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on FSLR shares. JPMorgan Chase & Co. increased their target price on First Solar from $262.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Morgan Stanley upped their price target on shares of First Solar from $215.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Susquehanna raised their price objective on shares of First Solar from $222.00 to $273.00 and gave the company a “positive” rating in a research report on Monday, October 13th. Guggenheim boosted their target price on shares of First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, UBS Group reissued a “buy” rating and set a $275.00 price target (up from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.43.

Insider Buying and Selling at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the transaction, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. The trade was a 2.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock valued at $5,733,305 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

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.