Belpointe Asset Management LLC Purchases New Stake in First Solar, Inc. $FSLR

Belpointe Asset Management LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,409 shares of the solar cell manufacturer’s stock, valued at approximately $1,193,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FSLR. TD Private Client Wealth LLC increased its position in First Solar by 126.9% during the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after acquiring an additional 85 shares during the period. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar during the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. increased its holdings in shares of First Solar by 69.4% during the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares during the period. Total Investment Management Inc. acquired a new stake in shares of First Solar in the second quarter valued at approximately $36,000. Finally, First Pacific Financial bought a new stake in shares of First Solar in the second quarter valued at approximately $41,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of First Solar stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,912 shares of company stock valued at $12,971,349. Corporate insiders own 0.48% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $249.41 on Thursday. The firm has a market cap of $26.76 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 0.30 and a beta of 1.60. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99. The business’s 50 day moving average price is $256.66 and its two-hundred day moving average price is $229.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91.

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 analysts’ consensus estimates of $4.32 by ($0.08). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.The firm’s quarterly revenue was up 79.7% compared to the same quarter last year. During the same period last year, the company posted $2.91 earnings per share. On average, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on FSLR. Evercore ISI increased their price target on shares of First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. BMO Capital Markets raised their target price on First Solar from $273.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Guggenheim boosted their price target on First Solar from $289.00 to $312.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Raymond James Financial initiated coverage on First Solar in a research report on Monday, January 12th. They set a “market perform” rating for the company. Finally, Susquehanna lifted their target price on First Solar from $285.00 to $292.00 and gave the company a “positive” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $276.76.

About First Solar

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.