K2 Principal Fund L.P. Purchases Shares of 10,000 First Solar, Inc. (NASDAQ:FSLR)

K2 Principal Fund L.P. acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,000 shares of the solar cell manufacturer’s stock, valued at approximately $1,762,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank boosted its position in shares of First Solar by 22.7% during the fourth quarter. First Hawaiian Bank now owns 4,926 shares of the solar cell manufacturer’s stock worth $868,000 after buying an additional 910 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in First Solar by 20.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,104 shares of the solar cell manufacturer’s stock valued at $1,252,000 after acquiring an additional 1,192 shares during the period. Czech National Bank grew its position in First Solar by 6.4% in the 4th quarter. Czech National Bank now owns 23,213 shares of the solar cell manufacturer’s stock valued at $4,091,000 after acquiring an additional 1,401 shares in the last quarter. TT International Asset Management LTD increased its stake in First Solar by 221.7% during the fourth quarter. TT International Asset Management LTD now owns 9,578 shares of the solar cell manufacturer’s stock worth $1,688,000 after purchasing an additional 6,601 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its position in shares of First Solar by 94.1% during the fourth quarter. Trust Co. of Toledo NA OH now owns 3,300 shares of the solar cell manufacturer’s stock worth $582,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. UBS Group cut their price objective on First Solar from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets decreased their target price on First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Citigroup cut their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Susquehanna decreased their price objective on First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.87.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the company’s stock in a transaction 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 transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at $2,353,197.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 over the last 90 days. 0.48% of the stock is currently owned by insiders.

First Solar Trading Up 5.2 %

NASDAQ FSLR opened at $140.74 on Friday. The firm’s fifty day moving average is $130.33 and its two-hundred day moving average is $163.77. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. 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 firm has a market cap of $15.09 billion, a PE ratio of 12.12, a P/E/G ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the firm earned $2.20 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.