Harbour Capital Advisors LLC Grows Holdings in First Solar, Inc. (NASDAQ:FSLR)

Harbour Capital Advisors LLC grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 224.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,217 shares of the solar cell manufacturer’s stock after acquiring an additional 3,607 shares during the period. Harbour Capital Advisors LLC’s holdings in First Solar were worth $1,301,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FSLR. Electron Capital Partners LLC grew its stake in First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after purchasing an additional 7,660,409 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after buying an additional 279,719 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in shares of First Solar during the second quarter worth approximately $53,752,000. Canada Pension Plan Investment Board increased its stake in shares of First Solar by 2,429.1% in the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after buying an additional 167,629 shares during the last quarter. Finally, Forest Avenue Capital Management LP acquired a new stake in First Solar in the second quarter valued at $30,962,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Down 1.1 %

NASDAQ FSLR opened at $203.37 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 market capitalization of $21.77 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 0.38 and a beta of 1.44. The stock’s 50 day moving average is $227.19 and its two-hundred day moving average is $222.24. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. During the same quarter in the previous year, the firm earned $1.85 EPS. First Solar’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts forecast that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America decreased their price objective on shares of First Solar from $343.00 to $321.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. BMO Capital Markets decreased their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 target price on shares of First Solar in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $283.64.

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Insiders own 0.58% of the company’s stock.

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.