Everence Capital Management Inc. Has $328,000 Holdings in First Solar, Inc. (NASDAQ:FSLR)

Everence Capital Management Inc. decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 12.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,860 shares of the solar cell manufacturer’s stock after selling 260 shares during the period. Everence Capital Management Inc.’s holdings in First Solar were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in First Solar by 21.2% in the 4th quarter. GAMMA Investing LLC now owns 2,254 shares of the solar cell manufacturer’s stock valued at $397,000 after purchasing an additional 395 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in First Solar during the third quarter worth about $18,406,000. Franklin Resources Inc. grew its position in First Solar by 10.4% during the third quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock worth $32,835,000 after buying an additional 12,439 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in First Solar by 33.3% during the third quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock valued at $6,125,000 after acquiring an additional 6,135 shares during the period. Finally, Blankinship & Foster LLC acquired a new position in First Solar in the 3rd quarter valued at approximately $935,000. Institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on FSLR shares. Royal Bank of Canada lowered their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Mizuho dropped their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Truist Financial assumed coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. The Goldman Sachs Group cut their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a research note 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $279.04.

First Solar Trading Up 2.6 %

FSLR stock opened at $191.27 on Tuesday. The business has a fifty day moving average of $192.19 and a 200-day moving average of $212.88. The company has a market cap of $20.48 billion, a P/E ratio of 16.47, a PEG ratio of 0.35 and a beta of 1.46. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. 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 released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that First Solar, Inc. will post 13.15 EPS for the current year.

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.