SFE Investment Counsel Has $9.14 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

SFE Investment Counsel increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,856 shares of the solar cell manufacturer’s stock after purchasing an additional 3,276 shares during the period. First Solar makes up approximately 1.9% of SFE Investment Counsel’s investment portfolio, making the stock its 13th largest holding. SFE Investment Counsel’s holdings in First Solar were worth $9,139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CWM LLC increased its stake in First Solar by 9.1% in the third quarter. CWM LLC now owns 3,971 shares of the solar cell manufacturer’s stock valued at $991,000 after purchasing an additional 331 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of First Solar by 429.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,775 shares of the solar cell manufacturer’s stock valued at $443,000 after buying an additional 1,440 shares during the period. Wesbanco Bank Inc. bought a new stake in shares of First Solar in the 3rd quarter valued at $1,702,000. Creative Planning raised its stake in First Solar by 7.1% during the 3rd quarter. Creative Planning now owns 17,003 shares of the solar cell manufacturer’s stock worth $4,241,000 after buying an additional 1,121 shares during the period. Finally, HTLF Bank bought a new position in First Solar during the third quarter worth about $201,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock opened at $158.61 on Thursday. The stock has a market cap of $16.98 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a fifty day moving average price of $181.46 and a two-hundred day moving average price of $202.92. First Solar, Inc. has a one year low of $141.70 and a one year 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.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FSLR. Piper Sandler increased their price target on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $218.00 to $259.00 in a research note on Tuesday. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $260.00 target price (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $276.38.

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.