Brooklyn Investment Group Invests $81,000 in First Solar, Inc. (NASDAQ:FSLR)

Brooklyn Investment Group acquired a new position in First Solar, Inc. (NASDAQ:FSLR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 325 shares of the solar cell manufacturer’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar during the 3rd quarter worth about $29,000. Atlas Capital Advisors LLC increased its stake in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of First Solar in the 2nd quarter valued at approximately $36,000. 92.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on FSLR. Clarkson Capital started coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. The Goldman Sachs Group reduced their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. William Blair initiated coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Morgan Stanley cut their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Four 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Price Performance

NASDAQ:FSLR opened at $192.57 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The stock’s 50 day moving average price is $209.90 and its two-hundred day moving average price is $225.58. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last announced 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 business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts anticipate that First Solar, Inc. will post 13.15 earnings per share for the current year.

First Solar Company 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.