First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 11.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,527 shares of the solar cell manufacturer’s stock after selling 2,894 shares during the period. Tidal Investments LLC’s holdings in First Solar were worth $5,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in FSLR. Blankinship & Foster LLC purchased a new position in shares of First Solar during the 3rd quarter worth $935,000. Morse Asset Management Inc boosted its holdings in First Solar by 10.7% in the 3rd quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock valued at $3,105,000 after purchasing an additional 1,199 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of First Solar by 38.5% during the 3rd quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock worth $2,006,000 after buying an additional 2,235 shares during the last quarter. TCW Group Inc. raised its position in shares of First Solar by 27.4% during the 3rd quarter. TCW Group Inc. now owns 16,374 shares of the solar cell manufacturer’s stock valued at $4,084,000 after buying an additional 3,526 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in First Solar by 60.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 122,843 shares of the solar cell manufacturer’s stock worth $30,643,000 after acquiring an additional 46,475 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FSLR. Bank of America cut their price objective on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Guggenheim lowered their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Evercore ISI dropped their target price 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. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $280.71.

First Solar Stock Up 1.7 %

FSLR opened at $199.67 on Friday. The business has a 50 day moving average price of $199.54 and a two-hundred day moving average price of $223.85. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a market cap of $21.38 billion, a PE ratio of 17.20, a P/E/G ratio of 0.35 and a beta of 1.46. 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 (NASDAQ:FSLR) last issued its quarterly 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). 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%. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. As a group, research analysts anticipate that First Solar, Inc. will post 13.15 EPS 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.