3,888 Shares in First Solar, Inc. (NASDAQ:FSLR) Bought by SCP Investment LP

SCP Investment LP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,888 shares of the solar cell manufacturer’s stock, valued at approximately $970,000. First Solar comprises approximately 0.7% of SCP Investment LP’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FSLR. Western Financial Corp CA acquired a new stake in First Solar during the third quarter worth about $1,209,000. Harbour Capital Advisors LLC grew its stake in shares of First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after purchasing an additional 3,607 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new position in shares of First Solar in the 3rd quarter valued at $17,635,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in First Solar by 6.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after buying an additional 14,597 shares in the last quarter. Finally, Warther Private Wealth LLC purchased a new position in First Solar in the third quarter valued at $2,655,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 4.2 %

Shares of First Solar stock opened at $187.36 on Wednesday. The stock has a 50 day moving average of $215.67 and a 200 day moving average of $225.99. 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 firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.33 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 earnings per share. As a group, research analysts predict that First Solar, Inc. will post 13.16 earnings per share for the current year.

Analyst Ratings Changes

FSLR has been the topic of a number of analyst reports. Mizuho dropped their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. William Blair initiated coverage on First Solar in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Seaport Res Ptn upgraded shares of First Solar to a “hold” rating in a research report on Tuesday, November 5th. Susquehanna dropped their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Finally, Roth Mkm decreased their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $280.50.

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.