U S Global Investors Inc. Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

U S Global Investors Inc. bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the solar cell manufacturer’s stock, valued at approximately $249,000.

Other institutional investors also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar during the 1st quarter valued at approximately $25,000. AlphaMark Advisors LLC bought a new position in shares of First Solar during the 3rd quarter valued at $25,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the last quarter. Riverview Trust Co bought a new position in shares of First Solar during the 1st quarter valued at $32,000. Finally, Summit Securities Group LLC bought a new position in shares of First Solar during the 2nd quarter valued at $36,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several recent research reports. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. UBS Group increased their price target on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Truist Financial started coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Roth Mkm dropped their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $288.46.

First Solar Trading Up 2.5 %

Shares of FSLR traded up $4.99 during mid-day trading on Tuesday, reaching $201.24. 442,471 shares of the company’s stock traded hands, compared to its average volume of 2,368,313. The stock has a market cap of $21.54 billion, a P/E ratio of 20.57, a P/E/G ratio of 0.38 and a beta of 1.44. The stock’s 50-day moving average is $226.97 and its two-hundred day moving average is $223.22. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. Research analysts forecast that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by insiders.

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.