Harbour Investments Inc. Has $314,000 Position in First Solar, Inc. (NASDAQ:FSLR)

Harbour Investments Inc. cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 10.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,259 shares of the solar cell manufacturer’s stock after selling 150 shares during the period. Harbour Investments Inc.’s holdings in First Solar were worth $314,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. AlphaMark Advisors LLC acquired a new position in shares of First Solar during the third quarter valued at about $25,000. Kennebec Savings Bank acquired a new position in First Solar in the 3rd quarter valued at approximately $29,000. Atlas Capital Advisors LLC lifted its position 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 worth $31,000 after acquiring an additional 111 shares during the period. Summit Securities Group LLC acquired a new stake in shares of First Solar during the 2nd quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of First Solar during the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 2.4 %

Shares of NASDAQ FSLR opened at $190.45 on Monday. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The firm’s 50-day moving average is $216.28 and its 200-day moving average is $225.91. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $20.39 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business 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 was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 EPS. Equities analysts expect that First Solar, Inc. will post 13.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on FSLR shares. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Tuesday, October 29th. BMO Capital Markets reiterated an “outperform” rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Evercore ISI dropped their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective on the stock in a report on Thursday, August 1st. Finally, Susquehanna lowered their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.50.

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.