SCP Investment LP Has $2.40 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

SCP Investment LP boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 249.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,588 shares of the solar cell manufacturer’s stock after purchasing an additional 9,700 shares during the period. First Solar comprises 1.8% of SCP Investment LP’s portfolio, making the stock its 9th largest holding. SCP Investment LP’s holdings in First Solar were worth $2,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Larson Financial Group LLC raised its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC increased its position in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the last quarter. Crews Bank & Trust bought a new position in First Solar in the fourth quarter valued at about $53,000. Hudson Edge Investment Partners Inc. purchased a new position in First Solar in the fourth quarter worth about $53,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of First Solar during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 1,272 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the transaction, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Georges Antoun sold 229 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now owns 52,836 shares of the company’s stock, valued at $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FSLR. Wells Fargo & Company cut their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley reduced their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on First Solar in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Guggenheim cut their price target on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, UBS Group decreased their price objective on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 0.6 %

Shares of NASDAQ FSLR opened at $127.32 on Friday. The company has a market cap of $13.63 billion, a P/E ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The firm has a 50-day simple moving average of $150.28 and a two-hundred day simple moving average of $185.17. First Solar, Inc. has a 1 year low of $124.32 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current 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.