Arosa Capital Management LP Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Arosa Capital Management LP bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,400 shares of the solar cell manufacturer’s stock, valued at approximately $9,578,000. First Solar makes up approximately 3.7% of Arosa Capital Management LP’s holdings, making the stock its 5th largest holding.

Several other large investors also recently made changes to their positions in FSLR. AlphaMark Advisors LLC bought a new stake in First Solar during the third quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new stake in First Solar during the third quarter valued at about $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar in the third quarter valued at about $29,000. Atlas Capital Advisors LLC lifted its position 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 last quarter. Finally, Larson Financial Group LLC boosted its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $199.27 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $21.33 billion, a P/E ratio of 17.16, a PEG ratio of 0.35 and a beta of 1.48. The business has a 50-day moving average of $208.12 and a 200-day moving average of $225.68. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last issued 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 firm had revenue of $887.70 million for 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 firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 EPS. On average, equities analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on FSLR shares. Piper Sandler cut their price target on First Solar from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Tuesday, October 29th. William Blair began coverage on shares of First Solar in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Wells Fargo & Company cut their price target on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $279.04.

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.