Pathstone Holdings LLC Sells 484 Shares of First Solar, Inc. (NASDAQ:FSLR)

Pathstone Holdings LLC lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,764 shares of the solar cell manufacturer’s stock after selling 484 shares during the quarter. Pathstone Holdings LLC’s holdings in First Solar were worth $4,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new stake in First Solar during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in shares of First Solar during the third quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar during the third quarter valued at approximately $29,000. Atlas Capital Advisors LLC boosted its holdings 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 purchasing an additional 111 shares during the period. Finally, Summit Securities Group LLC bought a new position in First Solar in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 2.3 %

Shares of First Solar stock opened at $186.05 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $212.65 and its two-hundred day simple moving average is $225.56. The firm has a market capitalization of $19.92 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.32 and a beta of 1.48. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.07 billion. During the same period last year, the firm earned $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts predict that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America decreased their target price on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial assumed coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $279.04.

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.