First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,093 shares of the solar cell manufacturer’s stock after selling 283 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in First Solar were worth $721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter worth about $29,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar during the 2nd quarter worth about $38,000. Finally, Larson Financial Group LLC raised its position in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 1.0 %

NASDAQ FSLR opened at $192.88 on Monday. The firm’s fifty day moving average is $190.18 and its two-hundred day moving average is $209.63. 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 firm has a market cap of $20.65 billion, a PE ratio of 16.61, a P/E/G ratio of 0.21 and a beta of 1.49.

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 the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $2.50 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 13.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FSLR shares. Mizuho cut their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group lowered their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Robert W. Baird lowered their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and raised their price target for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

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.