Sheaff Brock Investment Advisors LLC Has $470,000 Stake in First Solar, Inc. (NASDAQ:FSLR)

Sheaff Brock Investment Advisors LLC grew its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,474 shares of the solar cell manufacturer’s stock after buying an additional 149 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in First Solar were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Covestor Ltd raised its stake in shares of First Solar by 97.7% in the 1st quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Glass Jacobson Investment Advisors llc bought a new position in shares of First Solar in the 2nd quarter valued at approximately $38,000. Spire Wealth Management raised its stake in shares of First Solar by 67.9% in the 1st quarter. Spire Wealth Management now owns 178 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 72 shares in the last quarter. WealthPlan Investment Management LLC bought a new position in shares of First Solar in the 1st quarter valued at approximately $42,000. Finally, Clear Street Markets LLC raised its stake in shares of First Solar by 94.0% in the 1st quarter. Clear Street Markets LLC now owns 194 shares of the solar cell manufacturer’s stock valued at $42,000 after acquiring an additional 94 shares in the last quarter. 82.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on FSLR. Morgan Stanley cut their price objective on First Solar from $226.00 to $214.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. Piper Sandler cut their price objective on First Solar from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, October 6th. Robert W. Baird raised their price objective on First Solar from $229.00 to $246.00 in a research note on Friday, September 8th. Barclays raised First Solar from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $230.00 to $224.00 in a research report on Thursday, October 12th. Finally, TheStreet raised First Solar from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $234.72.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 12,346 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $202.89, for a total value of $2,504,879.94. Following the transaction, the insider now owns 46,841 shares of the company’s stock, valued at $9,503,570.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other First Solar news, insider Georges Antoun sold 12,346 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $202.89, for a total value of $2,504,879.94. Following the transaction, the insider now owns 46,841 shares of the company’s stock, valued at $9,503,570.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alexander R. Bradley sold 5,500 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $186.22, for a total value of $1,024,210.00. Following the completion of the transaction, the chief financial officer now directly owns 35,419 shares in the company, valued at approximately $6,595,726.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,931 shares of company stock valued at $4,638,371. 0.58% of the stock is currently owned by corporate insiders.

First Solar Price Performance

Shares of FSLR stock opened at $133.92 on Friday. The stock’s fifty day simple moving average is $157.50 and its 200 day simple moving average is $180.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.19 and a quick ratio of 2.45. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 30.30 and a beta of 1.42. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 31st. The solar cell manufacturer reported $2.50 EPS for the quarter, beating the consensus estimate of $2.09 by $0.41. The business had revenue of $801.09 million for the quarter, compared to analyst estimates of $904.11 million. First Solar had a return on equity of 8.35% and a net margin of 14.99%. First Solar’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.46) EPS. On average, analysts expect that First Solar, Inc. will post 7.97 earnings per share for the current fiscal year.

First Solar Profile

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.