Wahed Invest LLC Has $646,000 Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Wahed Invest LLC grew its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,588 shares of the solar cell manufacturer’s stock after acquiring an additional 252 shares during the quarter. Wahed Invest LLC’s holdings in First Solar were worth $646,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new stake in First Solar in the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the 3rd quarter worth $29,000. Atlas Capital Advisors LLC grew its holdings 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 in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in First Solar in the second quarter valued at about $36,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $194.19 on Friday. The firm has a market cap of $20.79 billion, a PE ratio of 16.73, a PEG ratio of 0.35 and a beta of 1.46. The stock’s fifty day moving average price is $203.36 and its two-hundred day moving average price is $225.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1 year low of $135.88 and a 1 year 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on FSLR. Jefferies Financial Group reduced their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Roth Mkm lowered their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Mizuho cut their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.71.

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.