First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Sycomore Asset Management

Sycomore Asset Management decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,814 shares of the solar cell manufacturer’s stock after selling 658 shares during the quarter. Sycomore Asset Management’s holdings in First Solar were worth $2,509,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. grew its position in First Solar by 14.8% during the 3rd quarter. Nicola Wealth Management LTD. now owns 15,500 shares of the solar cell manufacturer’s stock worth $3,866,000 after purchasing an additional 2,000 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in First Solar by 3.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,125 shares of the solar cell manufacturer’s stock worth $780,000 after purchasing an additional 111 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of First Solar by 9.3% during the 3rd quarter. Metis Global Partners LLC now owns 17,154 shares of the solar cell manufacturer’s stock valued at $4,279,000 after acquiring an additional 1,460 shares in the last quarter. Huntington National Bank grew its holdings in shares of First Solar by 95.2% during the 3rd quarter. Huntington National Bank now owns 443 shares of the solar cell manufacturer’s stock valued at $111,000 after acquiring an additional 216 shares in the last quarter. Finally, Credit Capital Investments LLC grew its holdings in shares of First Solar by 1.1% during the 3rd quarter. Credit Capital Investments LLC now owns 24,700 shares of the solar cell manufacturer’s stock valued at $6,161,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

NASDAQ FSLR traded down $1.76 on Thursday, reaching $180.37. The company’s stock had a trading volume of 569,202 shares, compared to its average volume of 2,506,207. The firm has a market cap of $19.31 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The business has a 50-day moving average price of $217.04 and a 200 day moving average price of $225.37. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. Sell-side analysts expect that First Solar, Inc. will post 13.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on FSLR. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report 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 note on Tuesday, October 29th. Guggenheim reduced their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $280.50.

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.