1,268 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,268 shares of the solar cell manufacturer’s stock, valued at approximately $286,000.

A number of other large investors also recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar during the first quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar in the 4th quarter valued at $27,000. Atlas Capital Advisors LLC lifted its stake in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Riverview Trust Co bought a new position in shares of First Solar in the 1st quarter worth $32,000. Finally, Summit Securities Group LLC acquired a new stake in shares of First Solar during the second quarter worth $36,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 0.0 %

FSLR opened at $255.75 on Monday. The stock has a market cap of $27.38 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. The stock’s fifty day simple moving average is $225.51 and its 200 day simple moving average is $216.60. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $1.85 EPS. As a group, research analysts expect that First Solar, Inc. will post 13.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock worth $2,405,757 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FSLR shares. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. Truist Financial assumed coverage on shares of First Solar in a research note on Thursday. They set a “buy” rating and a $300.00 price objective on the stock. Piper Sandler upped their target price on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. BMO Capital Markets decreased their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Oppenheimer increased their target price on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $284.12.

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.