BI Asset Management Fondsmaeglerselskab A S Decreases Stock Holdings in First Solar, Inc. $FSLR

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 53.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,037 shares of the solar cell manufacturer’s stock after selling 44,920 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in First Solar were worth $8,609,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FSLR. Strategic Wealth Investment Group LLC bought a new stake in shares of First Solar in the second quarter worth about $26,000. Hantz Financial Services Inc. lifted its holdings in First Solar by 69.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 75 shares during the period. Total Investment Management Inc. bought a new stake in shares of First Solar in the 2nd quarter worth approximately $36,000. Private Trust Co. NA grew its position in shares of First Solar by 2,610.0% in the 2nd quarter. Private Trust Co. NA now owns 271 shares of the solar cell manufacturer’s stock worth $45,000 after buying an additional 261 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of First Solar during the second quarter valued at approximately $47,000. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $234.36 on Friday. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $285.99. The firm’s 50-day simple moving average is $253.28 and its two-hundred day simple moving average is $231.23. The stock has a market cap of $25.15 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wolfe Research lifted their price target on shares of First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Citigroup raised their target price on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Wells Fargo & Company boosted their price target on shares of First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Susquehanna raised their price objective on shares of First Solar from $285.00 to $292.00 and gave the stock a “positive” rating in a report on Wednesday, January 21st. Finally, DZ Bank cut First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.94.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.