Tidal Investments LLC Trims Position in First Solar, Inc. (NASDAQ:FSLR)

Tidal Investments LLC reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,527 shares of the solar cell manufacturer’s stock after selling 2,894 shares during the quarter. Tidal Investments LLC’s holdings in First Solar were worth $5,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Electron Capital Partners LLC lifted its position in shares of 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 worth $1,729,223,000 after buying an additional 7,660,409 shares in the last quarter. State Street Corp raised its position in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after buying an additional 108,984 shares in the last quarter. Geode Capital Management LLC grew its position in First Solar by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after acquiring an additional 24,143 shares in the last quarter. Wellington Management Group LLP increased its stake in First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in First Solar by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 1.7 %

FSLR stock opened at $199.67 on Friday. The firm’s fifty day moving average is $199.54 and its 200 day moving average is $223.85. The firm has a market cap of $21.38 billion, a PE ratio of 17.20, a P/E/G ratio of 0.35 and a beta of 1.46. 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.

First Solar (NASDAQ:FSLR) last issued 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). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 EPS. On average, research analysts forecast that First Solar, Inc. will post 13.15 EPS for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of analyst reports. Jefferies Financial Group cut their target price on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley reduced their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Mizuho cut their price target on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Susquehanna dropped their price objective 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. Finally, Roth Mkm lowered their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. 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. According to data from MarketBeat.com, the stock 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.