CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $13.67 Million Stake in First Solar, Inc. $FSLR

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,000 shares of the solar cell manufacturer’s stock after acquiring an additional 7,000 shares during the quarter. First Solar accounts for about 0.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 29th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.06% of First Solar worth $13,673,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in First Solar by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer’s stock worth $2,194,704,000 after purchasing an additional 57,507 shares in the last quarter. State Street Corp boosted its holdings in shares of First Solar by 2.1% in the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after buying an additional 111,927 shares during the period. Geode Capital Management LLC increased its position in shares of First Solar by 0.9% during the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after acquiring an additional 26,476 shares in the last quarter. Viking Global Investors LP increased its position in shares of First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Finally, Samlyn Capital LLC raised its holdings in shares of First Solar by 6.3% during the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock worth $220,215,000 after acquiring an additional 103,403 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

FSLR opened at $264.30 on Wednesday. The business’s 50-day simple moving average is $259.36 and its 200 day simple moving average is $216.64. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The firm has a market capitalization of $28.36 billion, a PE ratio of 20.30, a PEG ratio of 0.52 and a beta of 1.59.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm earned $2.91 EPS. The firm’s revenue for the quarter was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Georges Antoun sold 37,412 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the sale, the insider directly owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of First Solar stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the transaction, the director owned 13,662 shares of the company’s stock, valued at $3,703,904.82. The trade was a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 48,912 shares of company stock valued at $12,971,349. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of research analyst reports. Wolfe Research upped their target price on shares of First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Susquehanna boosted their price target on First Solar from $273.00 to $285.00 in a report on Friday, October 31st. Evercore ISI upped their price objective on First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. BMO Capital Markets lifted their target price on First Solar from $273.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Glj Research boosted their target price on First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $271.27.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.