Deutsche Bank AG Buys 128,432 Shares of First Solar, Inc. (NASDAQ:FSLR)

Defense World · Nov 24, 2022 20:11

Deutsche Bank AG raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR – Get Rating) by 28.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 573,514 shares of the solar cell manufacturer's stock after purchasing an additional 128,432 shares during the quarter. Deutsche Bank AG owned 0.54% of First Solar worth $39,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd lifted its holdings 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 worth $35,000 after acquiring an additional 208 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of First Solar in the 2nd quarter worth approximately $32,000. Wellington Shields Capital Management LLC bought a new stake in shares of First Solar in the 1st quarter worth approximately $67,000. Venture Visionary Partners LLC bought a new stake in shares of First Solar in the 2nd quarter worth approximately $118,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of First Solar by 22,940.0% in the 1st quarter. Clearstead Advisors LLC now owns 2,304 shares of the solar cell manufacturer's stock worth $193,000 after acquiring an additional 2,294 shares during the last quarter. 79.21% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at First Solar

In other First Solar news, Director R Craig Kennedy sold 600 shares of the company's stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $134.62, for a total transaction of $80,772.00. Following the transaction, the director now owns 19,185 shares in the company, valued at approximately $2,582,684.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

FSLR has been the subject of a number of recent research reports. Argus boosted their price objective on shares of First Solar from $123.00 to $176.00 in a report on Thursday, November 10th. Bank of America lifted their target price on shares of First Solar from $138.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, October 31st. The Goldman Sachs Group raised shares of First Solar from a "sell" rating to a "buy" rating and lifted their target price for the stock from $60.00 to $172.00 in a research note on Wednesday, September 7th. Piper Sandler lifted their target price on shares of First Solar from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 1st. Finally, Oppenheimer lifted their target price on shares of First Solar to $156.00 in a research note on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $161.96.

First Solar Price Performance

FSLR opened at $169.47 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.10 and a current ratio of 4.09. The stock has a market capitalization of $18.07 billion, a P/E ratio of 192.58 and a beta of 1.26. The company's 50-day simple moving average is $139.46 and its two-hundred day simple moving average is $105.35. First Solar, Inc. has a 52-week low of $59.60 and a 52-week high of $170.52.

First Solar (NASDAQ:FSLR – Get Rating) last posted its earnings results 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%. First Solar's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, analysts predict that First Solar, Inc. will post -0.51 EPS for the current year.

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.

Deutsche Bank AG Buys 128,432 Shares of First Solar, Inc. (NASDAQ:FSLR)

Insider Buying and Selling at First Solar

Analysts Set New Price Targets

First Solar Price Performance

About First Solar

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