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

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

Several other institutional investors have also recently made changes to their positions in the company. Estabrook Capital Management acquired a new position in shares of First Solar in the 3rd quarter worth approximately $29,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar during the fourth quarter worth $29,000. Headinvest LLC acquired a new stake in shares of First Solar in the third quarter valued at $30,000. Rakuten Securities Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at $34,000. Finally, USCF Advisers LLC grew its stake in shares of First Solar by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock valued at $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 Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. In the last three months, insiders sold 28,620 shares of company stock valued at $4,663,000. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Performance

FSLR traded up $2.89 on Thursday, hitting $193.61. 1,230,125 shares of the company traded hands, compared to its average volume of 2,067,929. The company has a 50 day moving average of $169.38 and a 200-day moving average of $159.14. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $20.72 billion, a PE ratio of 20.29, a PEG ratio of 0.33 and a beta of 1.37. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $232.00.

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

Analyst Ratings Changes

FSLR has been the subject of a number of research reports. Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and issued a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. DZ Bank started coverage on First Solar in a research note on Wednesday, April 17th. They set a “buy” rating and a $205.00 target price for the company. Mizuho boosted their target price on First Solar from $196.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.16.

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.