Fulcrum Capital LLC Raises Position in First Solar, Inc. (NASDAQ:FSLR)

Fulcrum Capital LLC raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,879 shares of the solar cell manufacturer’s stock after purchasing an additional 380 shares during the period. First Solar accounts for about 1.3% of Fulcrum Capital LLC’s portfolio, making the stock its 27th biggest position. Fulcrum Capital LLC’s holdings in First Solar were worth $6,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Electron Capital Partners LLC grew its stake in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after buying an additional 516,783 shares during the last quarter. Merewether Investment Management LP grew its stake in shares of First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after buying an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of First Solar during the third quarter valued at approximately $67,652,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on FSLR. Royal Bank of Canada cut their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Truist Financial began coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Tuesday, October 29th. Robert W. Baird cut their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, Roth Mkm cut their price target on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $277.75.

First Solar Stock Performance

FSLR traded down $5.87 on Monday, reaching $183.37. 1,010,965 shares of the stock were exchanged, compared to its average volume of 1,649,860. The company’s 50-day moving average price is $191.64 and its 200 day moving average price is $211.08. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $19.63 billion, a PE ratio of 15.79, a PEG ratio of 0.35 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company 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%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $2.50 EPS. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

First Solar Company 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.