First Solar, Inc. (NASDAQ:FSLR) Stock Position Decreased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its holdings in First Solar, Inc. (NASDAQ:FSLR) by 34.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,022 shares of the solar cell manufacturer’s stock after selling 1,045 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in First Solar were worth $356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the fourth quarter valued at $53,000. Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar during the fourth quarter worth about $53,000. Finally, Financial Avengers Inc. acquired a new stake in shares of First Solar in the 3rd quarter worth about $77,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the transaction, the insider now owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This represents a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 over the last three months. 0.58% of the stock is owned by corporate insiders.

First Solar Stock Down 3.9 %

Shares of FSLR stock opened at $126.34 on Thursday. The stock has a 50 day moving average of $152.88 and a 200-day moving average of $186.29. The firm has a market cap of $13.53 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $124.53 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on FSLR. Citigroup reduced their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler lowered their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial restated a “buy” rating and set a $285.00 price objective (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Profile

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.