Covestor Ltd Has $229,000 Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Covestor Ltd lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 916 shares of the solar cell manufacturer’s stock after purchasing an additional 55 shares during the quarter. Covestor Ltd’s holdings in First Solar were worth $229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in First Solar during the third quarter worth $25,000. Atlas Capital Advisors LLC boosted its stake in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of First Solar during the 2nd quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new position in shares of First Solar in the 2nd quarter valued at approximately $38,000. Finally, Alta Advisers Ltd bought a new position in shares of First Solar in the 2nd quarter valued at approximately $45,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Tuesday, October 29th. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Mizuho decreased their price target on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Evercore ISI cut their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $281.13.

First Solar Trading Down 1.4 %

FSLR stock opened at $193.93 on Friday. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $218.98 and its 200-day moving average is $225.18. The firm has a market cap of $20.76 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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). The company had revenue of $887.70 million for 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 business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. Equities analysts anticipate that First Solar, Inc. will post 13.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

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.