First Solar, Inc. (NASDAQ:FSLR) Position Lessened by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,329 shares of the solar cell manufacturer’s stock after selling 185 shares during the quarter. First Solar comprises approximately 1.5% of Bouvel Investment Partners LLC’s holdings, making the stock its 22nd largest position. Bouvel Investment Partners LLC’s holdings in First Solar were worth $4,073,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Credit Capital Investments LLC increased its stake in shares of First Solar by 1.1% in the third quarter. Credit Capital Investments LLC now owns 24,700 shares of the solar cell manufacturer’s stock valued at $6,161,000 after purchasing an additional 270 shares during the period. Oppenheimer & Co. Inc. grew its holdings in First Solar by 239.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,153 shares of the solar cell manufacturer’s stock worth $786,000 after buying an additional 2,225 shares in the last quarter. Saturna Capital Corp increased its position in First Solar by 2.5% in the 3rd quarter. Saturna Capital Corp now owns 5,204 shares of the solar cell manufacturer’s stock valued at $1,298,000 after acquiring an additional 129 shares during the period. Mengis Capital Management Inc. raised its stake in First Solar by 2.0% during the 3rd quarter. Mengis Capital Management Inc. now owns 6,162 shares of the solar cell manufacturer’s stock valued at $1,537,000 after acquiring an additional 120 shares in the last quarter. Finally, Simmons Bank acquired a new position in First Solar during the 3rd quarter worth $225,000. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on FSLR. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. Mizuho lowered 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. Clarkson Capital began coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target for the company. Truist Financial initiated coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Finally, Royal Bank of Canada cut their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $280.50.

First Solar Trading Down 0.1 %

NASDAQ FSLR opened at $182.13 on Thursday. The firm’s 50 day moving average price is $217.04 and its two-hundred day moving average price is $225.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The stock has a market cap of $19.50 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.32 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during 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 quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. Equities analysts anticipate that First Solar, Inc. will post 13.16 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.