Brookstone Capital Management Sells 349 Shares of First Solar, Inc. (NASDAQ:FSLR)

Brookstone Capital Management reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349 shares of the solar cell manufacturer’s stock after selling 349 shares during the period. Brookstone Capital Management’s holdings in First Solar were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Electron Capital Partners LLC boosted its position in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after acquiring an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after acquiring an additional 516,783 shares during the last quarter. Merewether Investment Management LP increased its holdings in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after purchasing an additional 293,400 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of First Solar during the third quarter valued at about $67,652,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

FSLR opened at $192.88 on Monday. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The company has a market cap of $20.65 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.21 and a beta of 1.49. The company’s fifty day moving average price is $190.18 and its two-hundred day moving average price is $209.63. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $2.50 EPS. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts expect that First Solar, Inc. will post 13.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FSLR shares. Morgan Stanley dropped their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Truist Financial started coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target on the stock. The Goldman Sachs Group decreased their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada reduced their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

First Solar Company Profile

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.