Moors & Cabot Inc. Reduces Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Moors & Cabot Inc. lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR – Get Rating) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the solar cell manufacturer’s stock after selling 75 shares during the period. Moors & Cabot Inc.’s holdings in First Solar were worth $300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FSLR. TCI Wealth Advisors Inc. increased its holdings in shares of First Solar by 370.7% in the third quarter. TCI Wealth Advisors Inc. now owns 193 shares of the solar cell manufacturer’s stock worth $26,000 after purchasing an additional 152 shares during the period. Glass Jacobson Investment Advisors llc bought a new position in shares of First Solar in the fourth quarter worth $30,000. First Horizon Advisors Inc. increased its holdings in shares of First Solar by 214.5% in the third quarter. First Horizon Advisors Inc. now owns 261 shares of the solar cell manufacturer’s stock worth $33,000 after purchasing an additional 178 shares during the period. Ellevest Inc. increased its holdings in shares of First Solar by 97.8% in the third quarter. Ellevest Inc. now owns 267 shares of the solar cell manufacturer’s stock worth $35,000 after purchasing an additional 132 shares during the period. Finally, Covestor Ltd increased its holdings in shares of First Solar by 97.7% in the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock worth $35,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 80.97% of the company’s stock.

Insider Transactions at First Solar

In other news, CAO Byron Michael Jeffers sold 1,281 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $212.50, for a total value of $272,212.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Byron Michael Jeffers sold 1,281 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $212.50, for a total value of $272,212.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William J. Post sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $218.52, for a total value of $2,185,200.00. Following the completion of the sale, the director now directly owns 24,207 shares in the company, valued at $5,289,713.64. The disclosure for this sale can be found here. Insiders have sold a total of 50,409 shares of company stock valued at $10,629,093 in the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FSLR shares. Argus upped their price target on shares of First Solar from $176.00 to $261.00 in a report on Tuesday, March 14th. The Goldman Sachs Group increased their target price on First Solar from $231.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st. Wells Fargo & Company increased their target price on First Solar from $188.00 to $233.00 and gave the company an “overweight” rating in a research note on Monday, March 6th. StockNews.com began coverage on First Solar in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Piper Sandler increased their target price on First Solar from $200.00 to $225.00 in a research note on Thursday, April 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, First Solar presently has a consensus rating of “Hold” and a consensus price target of $209.52.

First Solar Stock Performance

First Solar stock opened at $203.53 on Monday. The stock’s 50 day simple moving average is $203.66 and its two-hundred day simple moving average is $179.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.44 and a current ratio of 3.08. The stock has a market cap of $21.74 billion, a price-to-earnings ratio of 521.89 and a beta of 1.42. First Solar, Inc. has a fifty-two week low of $60.77 and a fifty-two week high of $232.00.

First Solar (NASDAQ:FSLR – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The solar cell manufacturer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.59). The firm had revenue of $548.29 million for the quarter, compared to the consensus estimate of $716.66 million. First Solar had a net margin of 1.49% and a return on equity of 0.71%. The business’s revenue was up 49.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.41) earnings per share. As a group, analysts expect that First Solar, Inc. will post 7.35 earnings per share for the current fiscal year.

First Solar Company Profile

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First Solar, Inc is a solar technology company, which engages in the provision of solar modules. It is involved in the design, manufacture, and sale of cadmium tellurid (CdTe) solar modules, which convert sunlight into electricity. The company was founded by Michael J. Ahearn in 1999 and is headquartered in Tempe, AZ.