Energy Opportunities Capital Management LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,950 shares of the solar cell manufacturer’s stock, valued at approximately $577,000. First Solar accounts for approximately 1.7% of Energy Opportunities Capital Management LLC’s portfolio, making the stock its 27th biggest holding.
Several other hedge funds have also recently bought and sold shares of FSLR. Janus Henderson Group PLC purchased a new stake in First Solar during the 2nd quarter worth about $3,370,000. CIBC Asset Management Inc purchased a new stake in shares of First Solar in the 2nd quarter valued at about $242,000. AGF Investments Inc. raised its holdings in shares of First Solar by 1.9% in the 2nd quarter. AGF Investments Inc. now owns 24,994 shares of the solar cell manufacturer’s stock valued at $1,642,000 after acquiring an additional 476 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of First Solar by 40.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,304,211 shares of the solar cell manufacturer’s stock valued at $151,340,000 after acquiring an additional 664,729 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of First Solar in the 2nd quarter valued at about $1,443,000. Institutional investors own 61.10% of the company’s stock.
In other First Solar news, COO Philip Dejong sold 11,491 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $55.25, for a total transaction of $634,877.75. Following the transaction, the chief operating officer now directly owns 9,541 shares in the company, valued at approximately $527,140.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Georges Antoun sold 8,476 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $59.09, for a total transaction of $500,846.84. Following the sale, the insider now owns 65,134 shares in the company, valued at $3,848,768.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,289 shares of company stock worth $2,930,843. Insiders own 0.72% of the company’s stock.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 24th. The solar cell manufacturer reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.77). First Solar had a negative return on equity of 0.07% and a negative net margin of 0.14%. The firm had revenue of $547.00 million during the quarter, compared to the consensus estimate of $995.41 million. During the same period in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter was down 19.1% compared to the same quarter last year. As a group, research analysts expect that First Solar, Inc. will post 2.44 EPS for the current year.
Several analysts have weighed in on the company. Roth Capital set a $75.00 price target on First Solar and gave the company a “buy” rating in a report on Monday, October 21st. Robert W. Baird set a $80.00 price objective on First Solar and gave the stock a “buy” rating in a research report on Friday, October 25th. JMP Securities upgraded First Solar from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Monday, October 28th. Cfra cut First Solar from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, UBS Group set a $73.00 price objective on First Solar and gave the stock a “buy” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. First Solar currently has an average rating of “Buy” and a consensus price target of $70.92.
First Solar Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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