GAMMA Investing LLC Boosts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

GAMMA Investing LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 21.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,254 shares of the solar cell manufacturer’s stock after buying an additional 395 shares during the period. GAMMA Investing LLC’s holdings in First Solar were worth $397,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new stake in shares of First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the 3rd quarter valued at about $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar in the 3rd quarter valued at $29,000. Larson Financial Group LLC grew its position in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of First Solar during the 2nd quarter worth about $38,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

First Solar stock opened at $191.27 on Tuesday. The firm’s 50 day simple moving average is $192.19 and its 200-day simple moving average is $212.88. The company has a market cap of $20.48 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. 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 released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $2.50 EPS. As a group, equities research analysts predict that First Solar, Inc. will post 13.15 EPS for the current year.

Wall Street Analyst Weigh In

FSLR has been the topic of several recent research reports. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. 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. 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 report on Wednesday, October 30th. Truist Financial initiated coverage on First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Finally, Barclays dropped their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

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.