GSA Capital Partners LLP Cuts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

GSA Capital Partners LLP reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 63.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,396 shares of the solar cell manufacturer’s stock after selling 2,413 shares during the quarter. GSA Capital Partners LLP’s holdings in First Solar were worth $348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Apollon Wealth Management LLC raised its position in First Solar by 4.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 3,657 shares of the solar cell manufacturer’s stock valued at $912,000 after purchasing an additional 154 shares during the last quarter. Kennebec Savings Bank bought a new position in First Solar during the 3rd quarter valued at approximately $29,000. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in First Solar during the 3rd quarter valued at approximately $17,635,000. Sigma Planning Corp raised its position in First Solar by 4.8% during the 3rd quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock valued at $362,000 after purchasing an additional 67 shares during the last quarter. Finally, Covestor Ltd raised its position in First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $186.05 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market cap of $19.92 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.33 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The firm’s 50 day moving average is $212.65 and its two-hundred day moving average is $225.35.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $2.50 EPS. First Solar’s revenue was up 10.7% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 13.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FSLR shares. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Piper Sandler decreased their target price on First Solar from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Wells Fargo & Company decreased their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Four equities research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $279.04.

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.