Trexquant Investment LP Has $4.77 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Trexquant Investment LP raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 406.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,671 shares of the solar cell manufacturer’s stock after acquiring an additional 22,203 shares during the period. Trexquant Investment LP’s holdings in First Solar were worth $4,767,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AtonRa Partners grew its holdings in shares of First Solar by 2.2% during the fourth quarter. AtonRa Partners now owns 3,600 shares of the solar cell manufacturer’s stock worth $620,000 after purchasing an additional 79 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in First Solar by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 18,634 shares of the solar cell manufacturer’s stock valued at $3,011,000 after buying an additional 85 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in First Solar by 14.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 691 shares of the solar cell manufacturer’s stock valued at $119,000 after buying an additional 86 shares during the period. Blue Trust Inc. lifted its stake in First Solar by 24.3% in the fourth quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer’s stock valued at $71,000 after buying an additional 87 shares during the period. Finally, Guinness Atkinson Asset Management Inc lifted its stake in First Solar by 1.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 7,409 shares of the solar cell manufacturer’s stock valued at $1,197,000 after buying an additional 90 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, CTO Markus Gloeckler sold 679 shares of First Solar stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the completion of the transaction, the chief technology officer now directly owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Markus Gloeckler sold 679 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the completion of the transaction, the chief technology officer now owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold 44,191 shares of company stock valued at $7,809,099 in the last three months. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $251.75 on Thursday. The stock has a market cap of $26.95 billion, a P/E ratio of 26.39, a PEG ratio of 0.28 and a beta of 1.37. The stock has a 50 day simple moving average of $177.74 and a 200 day simple moving average of $162.86. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $253.99.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Research analysts anticipate that First Solar, Inc. will post 13.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on FSLR. The Goldman Sachs Group increased their target price on First Solar from $265.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. UBS Group raised their price target on First Solar from $252.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays raised their price target on First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Tuesday, April 23rd. Finally, Piper Sandler raised their price target on First Solar from $195.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.16.

First Solar 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.