Wahed Invest LLC buys 105 shares of NASDAQ:FSLR, First Solar, Inc.

By Oliver Townsend Jun 18, 2024
Wahed Invest LLC Purchases 105 Shares of First Solar, Inc. (NASDAQ:FSLR).jpegOrginal image from: https://www.defenseworld.net/2024/06/18/wahed-invest-llc-purchases-105-shares-of-first-solar-inc-nasdaqfslr.html

Investing in the stock market can be a lucrative opportunity for individuals and companies alike. One such company, Wahed Invest LLC, recently made a significant purchase of shares in First Solar, Inc. (NASDAQ:FSLR). This move signifies confidence in the solar cell manufacturer and reflects the ever-evolving landscape of investment strategies in the financial sector.

Wahed Invest LLC’s Investment in First Solar, Inc.

Wahed Invest LLC increased its position in First Solar, Inc. by 6.2% during the 4th quarter, as reported in its recent 13F filing with the Securities & Exchange Commission. The company acquired an additional 105 shares, bringing its total holdings to 1,811 shares valued at $312,000 by the end of the quarter. This strategic investment showcases Wahed Invest LLC’s belief in the growth potential of First Solar in the renewable energy sector.

Other Hedge Funds’ Interest in First Solar

Aside from Wahed Invest LLC, various other hedge funds have also shown interest in First Solar, Inc. Vanguard Group Inc., Schroder Investment Management Group, and Wellington Management Group LLP all increased their holdings in the company during recent quarters. This collective interest from institutional investors highlights the confidence in First Solar’s performance and future prospects within the industry.

Market Performance and Analyst Reports

Despite a recent 4.5% decrease in First Solar’s stock, the company’s one-year performance has been notable, with a range from $129.21 to $306.77. Analysts predict a positive outlook for First Solar, Inc., estimating an EPS of 13.55 for the current fiscal year. Recent analyst reports have reiterated positive ratings for the company, emphasizing its growth potential and market positioning within the solar energy sector.

Insider Transactions and Company Profile

Insider transactions within First Solar, Inc. have also been significant, with executives like Georges Antoun and Alexander R. Bradley selling shares in recent months. These actions can provide insights into the company’s internal operations and financial health. First Solar, Inc. remains a key player in the solar technology industry, offering PV solar energy solutions globally.

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