Nicola Wealth Management LTD. Sells 1,500 Shares of First Solar, Inc. (NASDAQ:FSLR)

Nicola Wealth Management LTD. lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,000 shares of the solar cell manufacturer’s stock after selling 1,500 shares during the quarter. Nicola Wealth Management LTD.’s holdings in First Solar were worth $2,467,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FSLR. Strengthening Families & Communities LLC bought a new position in shares of First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank bought a new position in shares of First Solar during the 3rd quarter worth approximately $29,000. Larson Financial Group LLC lifted its position in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the period. Finally, Crews Bank & Trust bought a new position in shares of First Solar during the 4th quarter worth approximately $53,000. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 6.3 %

NASDAQ FSLR opened at $127.63 on Tuesday. The stock has a 50-day simple moving average of $171.20 and a 200 day simple moving average of $196.97. The company has a market capitalization of $13.66 billion, a PE ratio of 10.99, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $126.54 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) 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 business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on FSLR. Robert W. Baird cut their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Redburn Atlantic began coverage on First Solar in a research report on Monday. They set a “neutral” rating for the company. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Citigroup dropped their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, UBS Group dropped their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

First Solar Company 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.