Aberdeen Group plc Sells 8,798 Shares of First Solar, Inc. $FSLR

Aberdeen Group plc decreased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 133,405 shares of the solar cell manufacturer’s stock after selling 8,798 shares during the period. Aberdeen Group plc owned 0.12% of First Solar worth $29,207,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on FSLR. TD Cowen upped their price target on shares of First Solar from $260.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Morgan Stanley set a $275.00 target price on First Solar in a research note on Friday, October 31st. Bank of America lowered their price target on First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. Finally, Royal Bank Of Canada upped their price objective on shares of First Solar from $244.00 to $258.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $275.61.

First Solar Price Performance

FSLR opened at $226.05 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $24.26 billion, a P/E ratio of 17.36, a PEG ratio of 0.29 and a beta of 1.60. The stock has a 50-day moving average price of $247.55 and a 200-day moving average price of $234.39. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $285.99.

About First Solar

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.