Benjamin Edwards Inc. Acquires Shares of 918 First Solar, Inc. (NASDAQ:FSLR)

Benjamin Edwards Inc. bought a new position in First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 918 shares of the solar cell manufacturer’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLR. AlphaMark Advisors LLC purchased a new stake in First Solar in the 3rd quarter worth $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar in the third quarter worth about $25,000. Kennebec Savings Bank bought a new position in First Solar during the third quarter valued at approximately $29,000. Atlas Capital Advisors LLC grew its holdings in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in First Solar in the 2nd quarter worth approximately $36,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FSLR. Janney Montgomery Scott upgraded 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. Clarkson Capital initiated coverage on shares of First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective for the company. Morgan Stanley reduced their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Piper Sandler increased their price target on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.71.

First Solar Stock Performance

FSLR stock opened at $202.92 on Wednesday. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The business has a 50-day moving average price of $201.62 and a 200 day moving average price of $224.75. The company has a market capitalization of $21.72 billion, a P/E ratio of 17.48, a PEG ratio of 0.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted its quarterly 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that First Solar, Inc. will post 13.15 EPS for the current fiscal 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.