National Bank of Canada FI Reduces Stake in First Solar, Inc. (NASDAQ:FSLR)

National Bank of Canada FI decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,464 shares of the solar cell manufacturer’s stock after selling 34,211 shares during the quarter. National Bank of Canada FI owned approximately 0.07% of First Solar worth $13,829,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of 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 stake in shares of First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar in the 4th quarter valued at $53,000. CoreFirst Bank & Trust purchased a new position in First Solar during the 4th quarter worth $54,000. Finally, Financial Avengers Inc. acquired a new stake in shares of First Solar in the 3rd quarter worth $77,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 5.5 %

NASDAQ FSLR opened at $128.69 on Friday. The company has a market cap of $13.78 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 12 month low of $120.60 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a 50-day moving average of $145.44 and a 200-day moving average of $181.88.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FSLR. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays reduced their price target on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Morgan Stanley dropped their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Guggenheim decreased 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 report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on shares of First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Four research 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 company’s stock. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $260.42.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 419 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now owns 4,695 shares in the company, valued at approximately $624,247.20. This trade represents a 8.19 % 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, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the sale, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by insiders.

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.