Newbridge Financial Services Group Inc. Buys New Position in First Solar, Inc. (NASDAQ:FSLR)

Newbridge Financial Services Group Inc. purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 517 shares of the solar cell manufacturer’s stock, valued at approximately $91,000.

A number of other institutional investors have also recently made changes to their positions in the stock. AlphaMark Advisors LLC purchased a new position in First Solar in the third quarter worth $25,000. Strengthening Families & Communities LLC bought a new stake in First Solar during the third quarter worth about $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the 3rd quarter worth about $29,000. Larson Financial Group LLC increased its position 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 valued at $39,000 after purchasing an additional 107 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in First Solar in the 4th quarter worth approximately $53,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Evercore ISI reduced their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays decreased their target price on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Royal Bank of Canada cut their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, Morgan Stanley dropped their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.29.

First Solar Trading Down 3.2 %

NASDAQ FSLR opened at $162.89 on Tuesday. The stock’s 50 day moving average is $183.24 and its 200 day moving average is $203.69. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $17.44 billion, a PE ratio of 14.03, a P/E/G ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a twelve month low of $141.70 and a twelve month high of $306.77.

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.