Versor Investments LP Makes New $1.04 Million Investment in First Solar, Inc. $FSLR

Versor Investments LP bought a new position in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,986 shares of the solar cell manufacturer’s stock, valued at approximately $1,041,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new stake in shares of First Solar during the fourth quarter worth approximately $25,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar during the second quarter worth approximately $26,000. Torren Management LLC acquired a new stake in shares of First Solar during the fourth quarter worth approximately $47,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of First Solar during the third quarter worth approximately $44,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of First Solar by 41.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 204 shares of the solar cell manufacturer’s stock worth $53,000 after purchasing an additional 60 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Down 2.2%

First Solar stock opened at $228.06 on Wednesday. The company has a market capitalization of $24.51 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.52 and a beta of 1.57. The firm’s fifty day simple moving average is $198.43 and its 200-day simple moving average is $231.42. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 1-year low of $135.50 and a 1-year high of $285.99.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. First Solar’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 EPS. Sell-side analysts forecast that First Solar, Inc. will post 17.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Koralewski sold 215 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $46,360.45. Following the completion of the sale, the insider directly owned 14,642 shares in the company, valued at approximately $3,157,254.46. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexander R. Bradley sold 498 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the sale, the chief financial officer owned 30,712 shares of the company’s stock, valued at $6,622,428.56. The trade was a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 81,204 shares of company stock valued at $16,043,186 in the last three months. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on FSLR shares. TD Cowen decreased their price target on shares of First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. DZ Bank upgraded shares of First Solar to a “strong sell” rating in a report on Thursday, February 26th. Argus decreased their price target on shares of First Solar from $300.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Glj Research downgraded shares of First Solar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $314.43 to $207.82 in a research report on Wednesday, March 4th. Finally, Bank of America dropped their price target on shares of First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $246.10.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.