State of Alaska Department of Revenue purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,800 shares of the solar cell manufacturer’s stock, valued at approximately $324,000.
Several other institutional investors have also made changes to their positions in FSLR. Key Square Capital Management LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $23,621,000. Ecofin Ltd. acquired a new position in shares of First Solar in the 2nd quarter valued at $19,485,000. Lord Abbett & CO. LLC acquired a new position in shares of First Solar in the 2nd quarter valued at $15,099,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of First Solar in the 2nd quarter valued at $9,877,000. Finally, Vanguard Group Inc. lifted its stake in shares of First Solar by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after purchasing an additional 243,787 shares during the last quarter. 51.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Solar, Inc. (NASDAQ FSLR) traded up $1.30 during midday trading on Tuesday, reaching $62.52. The company’s stock had a trading volume of 2,904,600 shares, compared to its average volume of 2,188,340. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 12 month low of $25.56 and a 12 month high of $76.61. The stock has a market cap of $6,620.00, a P/E ratio of -15.03 and a beta of 2.08.
FSLR has been the topic of several recent analyst reports. Zacks Investment Research raised First Solar from a “hold” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a research note on Wednesday, February 7th. ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Vetr lowered First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 price target on the stock. in a research note on Wednesday, October 18th. Guggenheim reiterated a “neutral” rating on shares of First Solar in a report on Thursday, January 18th. They noted that the move was a valuation call. Finally, Bank of America started coverage on First Solar in a report on Thursday, December 14th. They issued a “neutral” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. First Solar has a consensus rating of “Hold” and a consensus target price of $66.60.
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First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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