Duality Advisers LP Invests $843,000 in First Solar, Inc. (NASDAQ:FSLR)

Posted by Defense World Staff on Sep 18th, 2023

Duality Advisers LP purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,875 shares of the solar cell manufacturer’s stock, valued at approximately $843,000.

Several other large investors have also recently added to or reduced their stakes in FSLR. Advisory Services Network LLC boosted its position in shares of First Solar by 5.2% during the 1st quarter. Advisory Services Network LLC now owns 996 shares of the solar cell manufacturer’s stock worth $217,000 after purchasing an additional 49 shares in the last quarter. Apollon Wealth Management LLC grew its position in First Solar by 2.0% during the first quarter. Apollon Wealth Management LLC now owns 3,104 shares of the solar cell manufacturer’s stock worth $675,000 after buying an additional 60 shares during the period. SVB Wealth LLC increased its holdings in First Solar by 2.1% in the first quarter. SVB Wealth LLC now owns 3,439 shares of the solar cell manufacturer’s stock valued at $748,000 after buying an additional 71 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of First Solar by 3.0% during the 1st quarter. Ballentine Partners LLC now owns 2,449 shares of the solar cell manufacturer’s stock valued at $533,000 after acquiring an additional 72 shares during the period. Finally, Spire Wealth Management boosted its stake in shares of First Solar by 67.9% during the 1st quarter. Spire Wealth Management now owns 178 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 72 shares in the last quarter. 82.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Solar news, CFO Alexander R. Bradley sold 5,500 shares of First Solar stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $186.22, for a total transaction of $1,024,210.00. Following the transaction, the chief financial officer now directly owns 35,419 shares of the company’s stock, valued at $6,595,726.18. The sale was disclosed in a filing with the SEC, which is available at this link. In other First Solar news, CFO Alexander R. Bradley sold 5,500 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $186.22, for a total value of $1,024,210.00. Following the transaction, the chief financial officer now directly owns 35,419 shares of the company’s stock, valued at $6,595,726.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Markus Gloeckler sold 464 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $182.00, for a total value of $84,448.00. Following the completion of the sale, the chief technology officer now directly owns 7,649 shares of the company’s stock, valued at approximately $1,392,118. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,452 shares of company stock valued at $6,833,334. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

NASDAQ:FSLR opened at $174.05 on Monday. The company has a market cap of $18.59 billion, a P/E ratio of 119.21 and a beta of 1.40. The firm’s 50 day moving average is $190.96 and its two-hundred day moving average is $196.92. First Solar, Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $232.00. The company has a quick ratio of 2.66, a current ratio of 3.36 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR – Get Free Report) last issued its earnings results on Thursday, July 27th. The solar cell manufacturer reported $1.85 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.90. First Solar had a return on equity of 3.13% and a net margin of 5.23%. The business had revenue of $810.67 million for the quarter, compared to analyst estimates of $720.43 million. Analysts expect that First Solar, Inc. will post 7.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FSLR shares. Morgan Stanley raised First Solar from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $180.00 to $206.00 in a research note on Wednesday, September 6th. Bank of America raised First Solar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $202.00 to $283.00 in a research note on Friday, July 28th. TheStreet raised shares of First Solar from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Roth Mkm restated a “buy” rating and set a $230.00 target price on shares of First Solar in a research report on Wednesday, September 6th. Finally, Wells Fargo & Company lowered their price target on shares of First Solar from $255.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday, September 8th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and an average target price of $232.62.

Check Out Our Latest Analysis on First Solar

First Solar Company Profile

(Free Report)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.