Brooklyn Investment Group Acquires Shares of 325 First Solar, Inc. (NASDAQ:FSLR)

Brooklyn Investment Group bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the third quarter, Holdings Channel reports. The fund bought 325 shares of the solar cell manufacturer’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new stake in First Solar in the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the third quarter valued at approximately $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar in the third quarter valued at approximately $29,000. Atlas Capital Advisors LLC grew 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 buying an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in First Solar during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $192.57 on Friday. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company’s fifty day moving average price is $209.90 and its 200-day moving average price is $225.58. The company has a market capitalization of $20.62 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $2.50 EPS. First Solar’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the subject of several recent analyst reports. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. William Blair began coverage on shares of First Solar in a report on Thursday, August 29th. They set a “market perform” rating for the company. Guggenheim decreased their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Susquehanna decreased their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.