Quinn Opportunity Partners LLC Buys 2,750 Shares of First Solar, Inc. $FSLR

Quinn Opportunity Partners LLC grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,250 shares of the solar cell manufacturer’s stock after buying an additional 2,750 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in First Solar were worth $7,656,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SFE Investment Counsel boosted its position in First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after buying an additional 5,852 shares during the period. Cetera Investment Advisers lifted its holdings in shares of First Solar by 10.9% during the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock worth $3,216,000 after purchasing an additional 2,510 shares during the period. Raymond James Financial Inc. grew its stake in shares of First Solar by 57.2% in the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after purchasing an additional 16,003 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. increased its holdings in First Solar by 18.2% in the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock valued at $12,853,000 after purchasing an additional 15,656 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in First Solar during the 2nd quarter worth $1,323,000. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Solar

In related news, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the transaction, the director directly owned 15,287 shares of the company’s stock, valued at $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 51,919 shares of company stock worth $13,559,122. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on FSLR. Citigroup upped their price target on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Robert W. Baird boosted their target price on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Cowen reaffirmed a “buy” rating on shares of First Solar in a research note on Friday, October 31st. TD Cowen boosted their price target on First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group set a $269.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.17.

First Solar Stock Down 3.1%

First Solar stock opened at $264.15 on Wednesday. The firm has a market capitalization of $28.35 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51. The firm’s fifty day moving average price is $229.44 and its two-hundred day moving average price is $190.54. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $281.55. 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 posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company earned $2.91 EPS. The company’s revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.