Townsquare Capital LLC Buys New Stake in First Solar, Inc. (NASDAQ:FSLR)

Townsquare Capital LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 963 shares of the solar cell manufacturer’s stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FSLR. AlphaMark Advisors LLC purchased a new stake in First Solar in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new position in shares of First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar during the 3rd quarter worth $29,000. Atlas Capital Advisors LLC lifted its stake in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of First Solar during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Roth Mkm reduced their price target on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial assumed coverage on First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price target on the stock. Susquehanna reduced their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada dropped their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $280.71.

First Solar Stock Down 1.9 %

Shares of NASDAQ FSLR opened at $194.19 on Friday. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 0.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock’s 50-day simple moving average is $203.36 and its 200-day simple moving average is $225.70.

First Solar (NASDAQ:FSLR) last announced its earnings results 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

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.