SeaCrest Wealth Management LLC Acquires Shares of 471 First Solar, Inc. (NASDAQ:FSLR)

SeaCrest Wealth Management LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLRGet Rating) in the second quarter, HoldingsChannel.com reports. The firm acquired 471 shares of the solar cell manufacturer’s stock, valued at approximately $32,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearstead Advisors LLC increased its stake in First Solar by 22,940.0% during the 1st quarter. Clearstead Advisors LLC now owns 2,304 shares of the solar cell manufacturer’s stock valued at $193,000 after purchasing an additional 2,294 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of First Solar during the 1st quarter valued at about $267,000. Naviter Wealth LLC purchased a new stake in shares of First Solar during the 2nd quarter valued at about $204,000. Janney Montgomery Scott LLC boosted its holdings in shares of First Solar by 1.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 8,636 shares of the solar cell manufacturer’s stock valued at $585,000 after acquiring an additional 133 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of First Solar by 14.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,449 shares of the solar cell manufacturer’s stock valued at $959,000 after acquiring an additional 1,414 shares during the last quarter. 79.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FSLR. KeyCorp raised their price target on shares of First Solar from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 7th. Bank of America raised their price target on shares of First Solar from $138.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 31st. Robert W. Baird raised their price target on shares of First Solar from $164.00 to $180.00 in a report on Friday, October 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Solar in a report on Monday, November 14th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, TheStreet downgraded shares of First Solar from a “b-” rating to a “c” rating in a report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $161.96.

First Solar Price Performance

NASDAQ FSLR opened at $167.66 on Wednesday. First Solar, Inc. has a 12 month low of $59.60 and a 12 month high of $168.17. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of 190.52 and a beta of 1.26. The company’s 50 day moving average is $138.78 and its two-hundred day moving average is $104.90. The company has a current ratio of 4.09, a quick ratio of 3.10 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLRGet Rating) last released its quarterly earnings data on Thursday, October 27th. The solar cell manufacturer reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.30). The company had revenue of $629.00 million for the quarter, compared to the consensus estimate of $747.97 million. First Solar had a net margin of 3.75% and a return on equity of 1.61%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, research analysts anticipate that First Solar, Inc. will post -0.51 earnings per share for the current year.

Insider Activity

In other news, Director R Craig Kennedy sold 600 shares of First Solar stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $125.68, for a total transaction of $75,408.00. Following the sale, the director now owns 18,888 shares in the company, valued at $2,373,843.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

About First Solar

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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