First Solar, Inc. (NASDAQ:FSLR) Position Decreased by ABLE Financial Group LLC

ABLE Financial Group LLC reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,193 shares of the solar cell manufacturer’s stock after selling 113 shares during the quarter. ABLE Financial Group LLC’s holdings in First Solar were worth $298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. AlphaMark Advisors LLC bought a new stake in shares of First Solar during the 3rd quarter worth about $25,000. Atlas Capital Advisors LLC boosted its position in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the period. Summit Securities Group LLC bought a new stake in First Solar in the 2nd quarter valued at $36,000. Itau Unibanco Holding S.A. acquired a new stake in First Solar in the 2nd quarter worth $38,000. Finally, Alta Advisers Ltd acquired a new stake in First Solar during the second quarter worth about $45,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research reports. Roth Mkm reduced their target price on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Clarkson Capital started coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Finally, William Blair started coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $281.13.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 directly owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the 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 transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

First Solar Stock Performance

First Solar stock traded down $8.24 during midday trading on Friday, hitting $188.46. The company’s stock had a trading volume of 1,033,237 shares, compared to its average volume of 2,501,138. The company has a 50-day moving average price of $219.65 and a two-hundred day moving average price of $224.75. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.37 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. As a group, sell-side analysts predict that First Solar, Inc. will post 13.12 earnings per share for the current year.

About First Solar

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.