Picton Mahoney Asset Management Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Picton Mahoney Asset Management acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,365 shares of the solar cell manufacturer’s stock, valued at approximately $4,647,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strengthening Families & Communities LLC acquired a new stake in First Solar in the third quarter valued at $25,000. Larson Financial Group LLC increased its holdings in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC increased its holdings in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust acquired a new stake in First Solar in the fourth quarter valued at $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in First Solar during the 4th quarter worth about $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,272 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares in the company, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,739 shares of company stock worth $4,289,403 in the last 90 days. Insiders own 0.58% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $132.51 on Friday. The company has a market capitalization of $14.19 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. 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 52-week low of $124.96 and a 52-week high of $306.77. The business has a 50-day simple moving average of $162.48 and a two-hundred day simple moving average of $191.33.

First Solar (NASDAQ:FSLR) last announced its 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 return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FSLR. Citigroup decreased their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. UBS Group decreased their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 price target (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Guggenheim decreased their price target on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $262.08.

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.