Hanson & Doremus Investment Management decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,714 shares of the solar cell manufacturer’s stock after selling 193 shares during the quarter. Hanson & Doremus Investment Management’s holdings in First Solar were worth $1,028,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Janus Henderson Group PLC acquired a new position in shares of First Solar during the 2nd quarter worth $3,370,000. CIBC Asset Management Inc acquired a new position in shares of First Solar in the 2nd quarter valued at approximately $242,000. AGF Investments Inc. raised its position in shares of First Solar by 1.9% in the 2nd quarter. AGF Investments Inc. now owns 24,994 shares of the solar cell manufacturer’s stock valued at $1,642,000 after purchasing an additional 476 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of First Solar by 40.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,304,211 shares of the solar cell manufacturer’s stock valued at $151,340,000 after purchasing an additional 664,729 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of First Solar in the 2nd quarter valued at approximately $1,443,000. 61.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ FSLR traded down $0.66 during mid-day trading on Friday, hitting $51.97. 930,200 shares of the company traded hands, compared to its average volume of 1,352,011. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 0.96 and a beta of 1.26. The business has a 50 day moving average of $56.90 and a two-hundred day moving average of $61.18. The company has a quick ratio of 3.24, a current ratio of 4.00 and a debt-to-equity ratio of 0.09. First Solar, Inc. has a 1 year low of $38.45 and a 1 year high of $69.24.
First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 24th. The solar cell manufacturer reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.77). The business had revenue of $547.00 million during the quarter, compared to analyst estimates of $995.41 million. First Solar had a negative net margin of 0.14% and a negative return on equity of 0.07%. The business’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 2.44 EPS for the current year.
FSLR has been the topic of a number of recent analyst reports. Cfra lowered First Solar from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Roth Capital set a $75.00 target price on First Solar and gave the company a “buy” rating in a research report on Monday, October 21st. Zacks Investment Research lowered First Solar from a “hold” rating to a “strong sell” rating and set a $59.00 target price on the stock. in a research report on Monday, October 21st. Robert W. Baird set a $80.00 target price on First Solar and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, UBS Group set a $73.00 price target on First Solar and gave the company a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $70.92.
In other First Solar news, insider Georges Antoun sold 8,476 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $53.85, for a total value of $456,432.60. Following the completion of the sale, the insider now owns 54,029 shares in the company, valued at approximately $2,909,461.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Raffi Garabedian sold 16,370 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $53.18, for a total value of $870,556.60. Following the completion of the sale, the chief technology officer now owns 190 shares of the company’s stock, valued at approximately $10,104.20. The disclosure for this sale can be found here. Insiders sold a total of 41,798 shares of company stock worth $2,351,907 in the last ninety days. Insiders own 0.72% of the company’s stock.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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