First Solar, Inc. (NASDAQ:FSLR) is SCP Investment LP’s 7th Largest Position

SCP Investment LP boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 95.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,170 shares of the solar cell manufacturer’s stock after acquiring an additional 3,982 shares during the period. First Solar accounts for about 1.3% of SCP Investment LP’s holdings, making the stock its 7th biggest position. SCP Investment LP’s holdings in First Solar were worth $1,399,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Baystate Wealth Management LLC purchased a new position in First Solar during the fourth quarter valued at approximately $29,000. Estabrook Capital Management purchased a new position in First Solar in the 3rd quarter worth approximately $29,000. Headinvest LLC purchased a new position in First Solar in the 3rd quarter worth approximately $30,000. Rakuten Securities Inc. purchased a new position in First Solar in the 4th quarter worth approximately $34,000. Finally, USCF Advisers LLC grew its stake in First Solar by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In related news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now directly owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Insiders sold a total of 28,620 shares of company stock worth $4,663,000 in the last three months. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of First Solar from $237.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Oppenheimer upped their price objective on shares of First Solar from $269.00 to $271.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Mizuho upped their price objective on shares of First Solar from $196.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group upped their price objective on shares of First Solar from $265.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Bank of America upped their price objective on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Trading Up 1.5 %

NASDAQ FSLR traded up $2.89 during trading on Thursday, hitting $193.61. The company had a trading volume of 1,230,125 shares, compared to its average volume of 2,067,929. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $169.38 and its 200-day moving average is $159.14. The company has a market cap of $20.72 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. First Solar’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.55 earnings per share for the current year.

About First Solar

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