Financial Network Wealth Management LLC Sells 153 Shares of First Solar, Inc. (NASDAQ:FSLR)

Financial Network Wealth Management LLC lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,598 shares of the solar cell manufacturer’s stock after selling 153 shares during the period. Financial Network Wealth Management LLC’s holdings in First Solar were worth $457,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in 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 buying an additional 107 shares during the period. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% in 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. Crews Bank & Trust purchased a new stake in First Solar in the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the 4th quarter worth $53,000. Finally, Financial Avengers Inc. purchased a new stake in First Solar in the 3rd quarter worth $77,000. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 0.7 %

NASDAQ:FSLR opened at $128.46 on Friday. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The firm has a 50 day moving average of $157.42 and a 200 day moving average of $188.89. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its quarterly 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). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 229 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at approximately $2,353,197.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FSLR. Piper Sandler decreased their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada cut their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Guggenheim dropped their target price on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $262.08.

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.