Moors & Cabot Inc. Grows Stake in First Solar, Inc. (NASDAQ:FSLR)

Moors & Cabot Inc. increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 17.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,313 shares of the solar cell manufacturer’s stock after purchasing an additional 191 shares during the quarter. Moors & Cabot Inc.’s holdings in First Solar were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. Advisors Asset Management Inc. grew its position in First Solar by 8.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,718 shares of the solar cell manufacturer’s stock worth $1,426,000 after purchasing an additional 452 shares during the last quarter. SCP Investment LP bought a new stake in shares of First Solar in the 3rd quarter worth approximately $970,000. Jennison Associates LLC boosted its holdings in shares of First Solar by 32.7% during the third quarter. Jennison Associates LLC now owns 48,289 shares of the solar cell manufacturer’s stock valued at $12,045,000 after acquiring an additional 11,894 shares during the period. Premier Fund Managers Ltd raised its holdings in shares of First Solar by 42.8% during 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 buying an additional 18,717 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in First Solar by 5.3% during 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 in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

First Solar stock opened at $186.05 on Friday. The stock has a fifty day moving average of $212.65 and a 200-day moving average of $225.56. The stock has a market capitalization of $19.92 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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). The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. On average, sell-side analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FSLR shares. Clarkson Capital initiated coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Seaport Res Ptn raised shares of First Solar to a “hold” rating in a report on Tuesday, November 5th. Piper Sandler lowered their price objective on shares of First Solar from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. Finally, Barclays reduced their target price on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.