Guinness Atkinson Asset Management Inc Sells 360 Shares of First Solar, Inc. $FSLR

Guinness Atkinson Asset Management Inc cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 9.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,399 shares of the solar cell manufacturer’s stock after selling 360 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in First Solar were worth $563,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar in the first quarter valued at approximately $25,000. TD Private Client Wealth LLC lifted its position in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in First Solar by 138.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after purchasing an additional 100 shares during the period. Larson Financial Group LLC increased its holdings in First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after purchasing an additional 219 shares in the last quarter. Finally, Colonial Trust Advisors acquired a new stake in shares of First Solar in the 1st quarter valued at about $32,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on FSLR shares. Evercore ISI began coverage on shares of First Solar in a report on Monday, October 6th. They issued an “in-line” rating and a $240.00 price objective on the stock. Mizuho boosted their price target on First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. Glj Research restated a “buy” rating and issued a $214.06 price objective (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. The Goldman Sachs Group lifted their target price on First Solar from $283.00 to $293.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Robert W. Baird increased their price target on First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.43.

First Solar Stock Performance

NASDAQ:FSLR opened at $241.41 on Monday. The stock has a 50 day simple moving average of $215.24 and a 200 day simple moving average of $179.22. The stock has a market cap of $25.89 billion, a P/E ratio of 20.65, a PEG ratio of 0.46 and a beta of 1.38. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $248.04. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $3.25 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the completion of the sale, the chief executive officer owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by insiders.

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.