Metis Global Partners LLC Buys 3,508 Shares of First Solar, Inc. (NASDAQ:FSLR)

Metis Global Partners LLC raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,662 shares of the solar cell manufacturer’s stock after purchasing an additional 3,508 shares during the quarter. Metis Global Partners LLC’s holdings in First Solar were worth $3,641,000 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 stock. Fisher Asset Management LLC lifted its position in First Solar by 7.3% in the fourth quarter. Fisher Asset Management LLC now owns 44,798 shares of the solar cell manufacturer’s stock valued at $7,895,000 after purchasing an additional 3,060 shares during the last quarter. Versor Investments LP bought a new position in shares of First Solar during the fourth quarter valued at approximately $353,000. Proficio Capital Partners LLC bought a new position in shares of First Solar during the fourth quarter valued at approximately $8,666,000. Mn Services Vermogensbeheer B.V. raised its holdings in shares of First Solar by 1.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 39,500 shares of the solar cell manufacturer’s stock valued at $6,961,000 after acquiring an additional 600 shares in the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of First Solar by 1.3% during the fourth quarter. New York Life Investment Management LLC now owns 15,165 shares of the solar cell manufacturer’s stock valued at $2,673,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of several recent research reports. Morgan Stanley reduced their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays cut their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $265.00 target price on First Solar in a research note on Thursday. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Finally, Piper Sandler cut their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Down 3.5 %

Shares of FSLR opened at $136.18 on Friday. The business’s 50 day moving average is $172.38 and its 200 day moving average is $197.88. The company has a market capitalization of $14.58 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 12-month low of $133.90 and a 12-month 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 issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Research analysts expect that First Solar, Inc. will post 13.05 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.