CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 1,000 Shares of First Solar, Inc. (NASDAQ:FSLR)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 2.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 35,000 shares of the solar cell manufacturer’s stock after selling 1,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in First Solar were worth $6,168,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of FSLR. AlphaMark Advisors LLC bought a new stake in shares of First Solar in the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar in the 3rd quarter valued at $25,000. Kennebec Savings Bank bought a new stake in First Solar during the 3rd quarter worth about $29,000. Larson Financial Group LLC boosted its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in shares of First Solar by 555.6% in the 3rd quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock valued at $59,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 3.4 %

Shares of NASDAQ FSLR opened at $168.25 on Friday. The stock has a market capitalization of $18.01 billion, a P/E ratio of 14.49, a PEG ratio of 0.20 and a beta of 1.49. The stock’s fifty day moving average is $189.11 and its 200 day moving average is $208.18. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million during 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%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Sell-side analysts forecast that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FSLR. Evercore ISI reduced their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Royal Bank of Canada dropped their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group decreased their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, Susquehanna cut their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $277.75.

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.