First Solar, Inc. (NASDAQ:FSLR) Holdings Lifted by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 20.6% in the third quarter, HoldingsChannel reports. The fund owned 2,177 shares of the solar cell manufacturer’s stock after buying an additional 372 shares during the quarter. Quantinno Capital Management LP’s holdings in First Solar were worth $543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AlphaMark Advisors LLC acquired a new position in First Solar in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar in the third quarter worth $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar during the third quarter worth $29,000. Atlas Capital Advisors LLC increased its position in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of First Solar during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 1.7 %

Shares of NASDAQ:FSLR opened at $199.67 on Friday. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a market capitalization of $21.38 billion, a PE ratio of 17.20, a P/E/G ratio of 0.35 and a beta of 1.46. The company’s fifty day moving average is $199.54 and its 200-day moving average is $223.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced 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). The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 earnings per share. Equities research analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FSLR. Guggenheim dropped their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley cut their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada lowered their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Roth Mkm reduced their price target on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Piper Sandler increased their price objective on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $280.71.

First Solar 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.