Shell Asset Management Co. Sells 4,439 Shares of First Solar, Inc. $FSLR

Shell Asset Management Co. reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 54.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,742 shares of the solar cell manufacturer’s stock after selling 4,439 shares during the period. Shell Asset Management Co.’s holdings in First Solar were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FSLR. SFE Investment Counsel lifted its position in shares of First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after buying an additional 5,852 shares during the last quarter. Joule Financial LLC acquired a new position in First Solar during the third quarter worth about $950,000. Mirae Asset Global Investments Co. Ltd. raised its stake in First Solar by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock worth $17,015,000 after acquiring an additional 13,904 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of First Solar in the second quarter worth about $1,323,000. Finally, State Street Corp boosted its stake in shares of First Solar by 2.1% in the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after purchasing an additional 111,927 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 2.4%

NASDAQ FSLR opened at $225.65 on Tuesday. The firm has a market capitalization of $24.21 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60. The business’s 50-day moving average price is $248.10 and its two-hundred day moving average price is $234.09. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99.

Analysts Set New Price Targets

A number of research firms recently issued reports on FSLR. Daiwa Securities Group upped their price objective on shares of First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Needham & Company LLC began coverage on shares of First Solar in a research note on Wednesday, October 22nd. They set a “buy” rating and a $286.00 target price on the stock. Morgan Stanley set a $275.00 price target on First Solar in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $300.00 price objective on shares of First Solar in a report on Wednesday, January 7th. Finally, Jefferies Financial Group cut First Solar from a “buy” rating to a “hold” rating and lowered their target price for the stock from $269.00 to $260.00 in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight 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 a consensus target price of $275.61.

First Solar Company 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.