Nicola Wealth Management LTD. Acquires 2,000 Shares of First Solar, Inc. (NASDAQ:FSLR)

Nicola Wealth Management LTD. increased its position in First Solar, Inc. (NASDAQ:FSLR) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,500 shares of the solar cell manufacturer’s stock after purchasing an additional 2,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in First Solar were worth $3,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC raised its stake in shares of First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after acquiring an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after acquiring an additional 49 shares in the last quarter. Cambridge Trust Co. grew its position in First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares during the last quarter. Finally, Gilman Hill Asset Management LLC increased its holdings in First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after purchasing an additional 50 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Clarkson Capital assumed coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 target price on the stock. Oppenheimer increased their target price on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $280.50.

First Solar Stock Performance

Shares of FSLR traded down $1.91 during mid-day trading on Thursday, reaching $180.22. The company’s stock had a trading volume of 373,212 shares, compared to its average volume of 2,505,509. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The stock has a market cap of $19.29 billion, a P/E ratio of 15.69, a PEG ratio of 0.32 and a beta of 1.48. The business has a 50-day simple moving average of $217.04 and a two-hundred day simple moving average of $225.37. 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 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 business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.50 earnings per share. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.16 earnings per share for the current fiscal year.

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.