Tobam ​​increases its position in First Solar, Inc. (NASDAQ:FSLR)

Tobam ​​raised its position in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 1.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,367 shares of the solar cell maker’s stock after purchasing an additional 425 shares during the period. First Solar makes up about 1.2% of Tobam’s investment portfolio, making the stock its 29th largest holding. Tobam’s holdings in First Solar were worth $6,577,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. CWM LLC raised its stake in First Solar by 9.1% in the third quarter. CWM LLC now owns 3,971 shares of the solar cell maker’s stock worth $991,000 after purchasing an additional 331 shares during the last quarter. True North Advisors LLC purchased a new position in First Solar in the third quarter valued at approximately $212,000. Brookstone Capital Management raised its stake in First Solar by 23.6% in the third quarter. Brookstone Capital Management now owns 1,698 shares of the solar cell maker’s stock valued at $424,000 after acquiring an additional 324 shares during the period. City Holding Co. raised its stake in First Solar by 1,377.0% in the third quarter. City Holding Co. now owns 901 shares of the solar cell maker’s stock valued at $225,000 after acquiring an additional 840 shares during the period. Finally, Clean Yield Group raised its stake in First Solar by 1.1% in the third quarter. Clean Yield Group now owns 26,382 shares of the solar cell maker’s stock worth $6,581,000 after acquiring an additional 298 shares during the period. 92.08% of shares are currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. This represents a 0.00 % decrease in ownership of the shares. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This trade represents a decrease of 0.00 % in the stock holding. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 over the last three months. 0.58% of shares are currently owned by company insiders.

First Solar Stock Down 9.1%

NASDAQ:FSLR traded down $20.50 during trading hours on Thursday, hitting $205.55. 3,939,709 shares of the stock traded hands, compared to its average volume of 2,363,610. The firm has a 50-day moving average price of $227.86 and a 200-day moving average price of $220.82. The company has a current ratio of 2.23, a quick ratio of 1.65, and a debt-to-equity ratio of 0.06. First Solar, Inc. it has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 0.42 and a beta of 1.44.

First Solar (NASDAQ:FSLR – Get Free Report ) last announced its earnings results on Tuesday, July 30th. The solar cell maker reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same period in the prior year, the business earned $1.85 EPS. The company’s revenue increased by 24.6% year-on-year. Equities research analysts anticipate that First Solar, Inc. will post 13.62 earnings per share for the current year.

Analysts set new price targets

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, June 28th. BMO Capital Markets cut their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Clarkson Capital assumed coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target on the stock. Finally, Truist Financial assumed coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and an average price target of $285.44, according to MarketBeat.com.

Read our latest analysis of First Solar

The first solar profile

(Free report)

First Solar, Inc, a solar technology company, provides solar photovoltaic (PV) energy solutions in the United States, France, Japan, Chile and internationally. The company manufactures and sells photovoltaic solar modules with a thin-film semiconductor technology that provides a low-carbon alternative to conventional crystalline silicon solar photovoltaic modules.

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