6,888 Shares in First Solar, Inc. $FSLR Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,888 shares of the solar cell manufacturer’s stock, valued at approximately $1,519,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. SFE Investment Counsel boosted its stake in shares of First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after buying an additional 5,852 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of First Solar during the second quarter worth $1,323,000. State Street Corp boosted its position in First Solar by 2.1% during the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after purchasing an additional 111,927 shares during the last quarter. Greenup Street Wealth Management LLC purchased a new position in First Solar in the third quarter valued at about $2,147,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock worth $10,471,000 after purchasing an additional 20,884 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

NASDAQ FSLR opened at $242.11 on Wednesday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $285.99. The company has a fifty day simple moving average of $258.30 and a 200 day simple moving average of $226.32. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The company has a market cap of $25.98 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.30 and a beta of 1.60.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm earned $2.91 EPS. The firm’s revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In other First Solar news, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $262.40, for a total value of $1,836,800.00. Following the transaction, the director directly owned 15,287 shares of the company’s stock, valued at $4,011,308.80. The trade was a 31.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Georges Antoun sold 37,412 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider directly owned 15,424 shares of the company’s stock, valued at $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 48,912 shares of company stock valued at $12,971,349. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FSLR. Glj Research boosted their price target on First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Jefferies Financial Group downgraded shares of First Solar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $269.00 to $260.00 in a research report on Wednesday, January 7th. BMO Capital Markets increased their price target on shares of First Solar from $273.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Susquehanna lifted their price objective on shares of First Solar from $273.00 to $285.00 in a research note on Friday, October 31st. Finally, Needham & Company LLC started coverage on shares of First Solar in a report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.34.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.