First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Commerce Bank

Commerce Bank lessened its position in First Solar, Inc. (NASDAQ:FSLR) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,776 shares of the solar cell manufacturer’s stock after selling 98 shares during the period. Commerce Bank’s holdings in First Solar were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FSLR. Premier Fund Managers Ltd increased its stake in shares of First Solar by 42.8% in the third quarter. Premier Fund Managers Ltd now owns 62,479 shares of the solar cell manufacturer’s stock valued at $15,974,000 after purchasing an additional 18,717 shares during the period. PNC Financial Services Group Inc. increased its position in First Solar by 5.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock valued at $3,847,000 after acquiring an additional 777 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in First Solar during the 3rd quarter valued at $4,053,000. Banque Cantonale Vaudoise boosted its position in First Solar by 26.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 26,047 shares of the solar cell manufacturer’s stock worth $6,497,000 after acquiring an additional 5,442 shares during the period. Finally, Prospera Financial Services Inc grew its stake in shares of First Solar by 52.5% in the third quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock worth $508,000 after purchasing an additional 701 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

Shares of FSLR stock opened at $192.32 on Wednesday. The stock’s fifty day simple moving average is $211.84 and its 200-day simple moving average is $225.80. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.33 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the subject of several research analyst reports. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Truist Financial began coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Morgan Stanley lowered their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Thursday, August 1st. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $279.04.

About First Solar

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.