Northwest & Ethical Investments L.P. Acquires Shares of 600 First Solar, Inc. (NASDAQ:FSLR)

Northwest & Ethical Investments L.P. bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, HoldingsChannel reports. The fund bought 600 shares of the solar cell manufacturer’s stock, valued at approximately $106,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the last quarter. Crews Bank & Trust bought a new stake in First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the 4th quarter valued at $53,000. Finally, Financial Avengers Inc. bought a new position in First Solar during the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other First Solar news, insider Georges Antoun sold 229 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. This represents a 0.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jason E. Dymbort sold 363 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $48,551.25. Following the sale, the general counsel now owns 22,273 shares of the company’s stock, valued at approximately $2,979,013.75. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is currently owned by company insiders.

First Solar Stock Up 2.2 %

FSLR stock opened at $131.32 on Friday. The stock has a 50-day simple moving average of $156.26 and a two-hundred day simple moving average of $188.05. First Solar, Inc. has a twelve month low of $124.96 and a twelve month high of $306.77. The firm has a market capitalization of $14.06 billion, a PE ratio of 11.31, a PEG ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FSLR shares. Roth Mkm reiterated a “buy” rating and issued a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Barclays dropped their price target on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Royal Bank of Canada reduced their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Four 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

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.