GSA Capital Partners LLP Reduces Stock Position in First Solar, Inc. (NASDAQ:FSLR)

GSA Capital Partners LLP trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 63.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396 shares of the solar cell manufacturer’s stock after selling 2,413 shares during the period. GSA Capital Partners LLP’s holdings in First Solar were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new stake in First Solar during the third quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in First Solar during the third quarter worth approximately $29,000. Atlas Capital Advisors LLC boosted its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the last quarter. Summit Securities Group LLC acquired a new stake in First Solar during the second quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in First Solar during the second quarter worth approximately $38,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Piper Sandler lowered their price target on First Solar from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group lowered their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.04.

Get Our Latest Stock Analysis on FSLR

First Solar Stock Up 2.3 %

Shares of NASDAQ FSLR opened at $186.05 on Friday. The stock has a market capitalization of $19.92 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.33 and a beta of 1.48. The company has a 50-day moving average price of $212.65 and a 200-day moving average price of $225.35. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. 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:FSLRGet Free Report) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that First Solar, Inc. will post 13.16 EPS for the current fiscal year.

First Solar Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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