Hartline Investment Corp Sells 275 Shares of First Solar, Inc. (NASDAQ:FSLR)

by · The Markets Daily

Hartline Investment Corp lessened its stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,637 shares of the solar cell manufacturer’s stock after selling 275 shares during the quarter. Hartline Investment Corp’s holdings in First Solar were worth $207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Garde Capital Inc. bought a new position in First Solar in the first quarter valued at about $25,000. Smartleaf Asset Management LLC boosted its position in 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. Banque Transatlantique SA acquired a new position in First Solar during the 4th quarter worth about $53,000. CoreFirst Bank & Trust acquired a new stake in First Solar during the 4th quarter valued at approximately $54,000. Finally, Princeton Global Asset Management LLC bought a new position in First Solar during the 1st quarter worth approximately $51,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Piper Sandler cut their target price on First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Glj Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 price target for the company in a research note on Thursday, May 1st. Barclays decreased their price objective on First Solar from $236.00 to $204.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Finally, KeyCorp lowered First Solar from a “sector weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.69.

Get Our Latest Stock Analysis on First Solar

Insider Buying and Selling

In other First Solar news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the transaction, the chief technology officer directly owned 8,037 shares of the company’s stock, valued at approximately $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,376 shares of company stock worth $2,227,172 in the last 90 days. Insiders own 0.48% of the company’s stock.

First Solar Stock Up 8.7%

Shares of NASDAQ:FSLR opened at $185.43 on Friday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72. The company has a market cap of $19.89 billion, a PE ratio of 15.77, a P/E/G ratio of 0.34 and a beta of 1.52. The stock’s 50-day moving average is $155.79 and its 200 day moving average is $154.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39.

First Solar (NASDAQ:FSLR – Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar Company Profile

(Free Report)

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.

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