Clear Harbor Asset Management LLC increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,145 shares of the solar cell manufacturer’s stock after buying an additional 80 shares during the period. Clear Harbor Asset Management LLC’s holdings in First Solar were worth $716,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank raised its stake in First Solar by 0.3% in the fourth quarter. Comerica Bank now owns 17,850 shares of the solar cell manufacturer’s stock worth $638,000 after buying an additional 61 shares during the last quarter. Gargoyle Investment Advisor L.L.C. raised its stake in First Solar by 1.2% in the first quarter. Gargoyle Investment Advisor L.L.C. now owns 14,591 shares of the solar cell manufacturer’s stock worth $396,000 after buying an additional 180 shares during the last quarter. Amalgamated Bank raised its stake in First Solar by 1.9% in the first quarter. Amalgamated Bank now owns 12,030 shares of the solar cell manufacturer’s stock worth $326,000 after buying an additional 225 shares during the last quarter. Pacer Advisors Inc. raised its stake in First Solar by 2.5% in the first quarter. Pacer Advisors Inc. now owns 9,647 shares of the solar cell manufacturer’s stock worth $261,000 after buying an additional 236 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in First Solar by 3.6% in the second quarter. Capstone Asset Management Co. now owns 14,869 shares of the solar cell manufacturer’s stock worth $593,000 after buying an additional 510 shares during the last quarter. Institutional investors and hedge funds own 60.75% of the company’s stock.
First Solar, Inc. (NASDAQ FSLR) traded down 1.50% on Tuesday, hitting $47.84. The stock had a trading volume of 1,513,264 shares. The stock’s market cap is $5.00 billion. The firm’s 50 day moving average price is $42.36 and its 200-day moving average price is $35.18. First Solar, Inc. has a 12 month low of $25.56 and a 12 month high of $50.21.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.60. The company had revenue of $623 million for the quarter, compared to the consensus estimate of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. First Solar’s revenue was down 38.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. On average, analysts forecast that First Solar, Inc. will post $2.23 EPS for the current year.
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Several brokerages recently commented on FSLR. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $48.61 price objective for the company in a report on Wednesday, August 2nd. Cowen and Company set a $57.00 price objective on First Solar and gave the stock a “buy” rating in a report on Saturday, July 29th. Barclays PLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of First Solar in a report on Wednesday, August 2nd. BidaskClub lowered First Solar from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered First Solar from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.35.
In other First Solar news, insider Bryan Robert Schumaker sold 1,235 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $40.00, for a total transaction of $49,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alexander R. Bradley sold 566 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the transaction, the chief financial officer now directly owns 963 shares in the company, valued at approximately $46,859.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,909 shares of company stock worth $4,705,246. 0.40% of the stock is currently owned by insiders.
First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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