Pacer Advisors Inc. cut its position in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 17.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,165 shares of the solar cell manufacturer’s stock after selling 1,329 shares during the quarter. Pacer Advisors Inc.’s holdings in First Solar were worth $1,172,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC raised its holdings in First Solar by 5.2% in the first 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 increased its holdings in shares of 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 valued at $675,000 after acquiring an additional 60 shares in the last quarter. SVB Wealth LLC increased its holdings in shares of First Solar by 2.1% during the first quarter. SVB Wealth LLC now owns 3,439 shares of the solar cell manufacturer’s stock valued at $748,000 after acquiring an additional 71 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of First Solar by 3.0% during the first 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 in the last quarter. Finally, Spire Wealth Management increased its holdings in shares of First Solar by 67.9% during the first quarter. Spire Wealth Management now owns 178 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 72 shares in the last quarter. 82.08% of the stock is currently owned by institutional investors.
First Solar Trading Down 1.7 %
Shares of NASDAQ:FSLR opened at $158.61 on Thursday. First Solar, Inc. has a 1 year low of $115.66 and a 1 year high of $232.00. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 108.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.36 and a quick ratio of 2.66. The business’s 50 day moving average price is $185.93 and its 200-day moving average price is $194.50.
Insider Activity at First Solar
In related news, insider Kuntal Kumar Verma sold 3,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $187.52, for a total value of $562,560.00. Following the completion of the transaction, the insider now directly owns 3,242 shares of the company’s stock, valued at approximately $607,939.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other First Solar news, insider Kuntal Kumar Verma sold 3,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $187.52, for a total value of $562,560.00. Following the completion of the sale, the insider now directly owns 3,242 shares of the company’s stock, valued at approximately $607,939.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Markus Gloeckler sold 464 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $182.00, for a total transaction 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 ninety days, insiders sold 34,452 shares of company stock valued at $6,833,334. 0.58% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Evercore ISI cut their price objective on shares of First Solar from $189.00 to $185.00 in a report on Thursday, June 29th. UBS Group cut their price objective on shares of First Solar from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, September 8th. Wells Fargo & Company cut their price objective on shares of First Solar from $255.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, September 8th. JPMorgan Chase & Co. upped their target price on First Solar from $222.00 to $239.00 and gave the company a “neutral” rating in a research report on Friday, September 8th. Finally, Piper Sandler dropped their target price on First Solar from $260.00 to $240.00 and set an “overweight” rating on the stock in a research report on Monday, September 11th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.62.
Get Our Latest Research Report on FSLR
First Solar Company Profile
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.
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