Guinness Atkinson Asset Management Inc Lowers Stake in First Solar, Inc. (NASDAQ:FSLR)

Guinness Atkinson Asset Management Inc lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of FSLR. AlphaMark Advisors LLC purchased a new stake in shares of First Solar in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar in the 3rd quarter valued at $25,000. Kennebec Savings Bank purchased a new stake in First Solar in the 3rd quarter worth $29,000. Larson Financial Group LLC raised its position in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in First Solar during the second quarter valued at $38,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FSLR shares. Robert W. Baird reduced their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Evercore ISI lowered their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Susquehanna dropped their price target on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Truist Financial assumed coverage on First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 target price (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

First Solar Price Performance

Shares of FSLR opened at $192.88 on Monday. The firm has a 50-day simple moving average of $190.18 and a two-hundred day simple moving average of $209.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The stock 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 posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 business posted $2.50 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts forecast that First Solar, Inc. will post 13.09 EPS for the current year.

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.