Crews Bank & Trust Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Crews Bank & Trust acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 300 shares of the solar cell manufacturer’s stock, valued at approximately $53,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Massmutual Trust Co. FSB ADV raised its stake in First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after buying an additional 45 shares in the last quarter. Davis Investment Partners LLC raised its position in shares of First Solar by 0.6% during the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after acquiring an additional 46 shares in the last quarter. Gilman Hill Asset Management LLC lifted its stake in First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after purchasing an additional 50 shares during the last quarter. Covestor Ltd boosted its holdings in First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares in the last quarter. Finally, Field & Main Bank raised its holdings in First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after purchasing an additional 55 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of FSLR opened at $167.52 on Friday. The company has a market capitalization of $17.93 billion, a PE ratio of 14.43, a P/E/G ratio of 0.19 and a beta of 1.49. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The company has a 50-day simple moving average of $186.89 and a 200-day simple moving average of $205.93. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

A number of research analysts recently commented on FSLR shares. Piper Sandler increased their target price on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Mizuho dropped their price objective on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Evercore ISI reduced their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Robert W. Baird dropped their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $276.29.

About First Solar

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.