Point72 Europe London LLP Decreases Stake in First Solar, Inc. (NASDAQ:FSLR)

Point72 Europe London LLP decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 63.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 15,739 shares of the solar cell manufacturer’s stock after selling 27,491 shares during the period. Point72 Europe London LLP’s holdings in First Solar were worth $3,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Electron Capital Partners LLC boosted its position in First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after buying an additional 516,783 shares during the period. Anomaly Capital Management LP purchased a new stake in shares of First Solar during the 2nd quarter valued at about $53,752,000. International Assets Investment Management LLC lifted its position in First Solar by 24,844.0% during the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after acquiring an additional 216,640 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in First Solar by 2,429.1% in the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock valued at $39,350,000 after acquiring an additional 167,629 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 stock opened at $199.27 on Friday. First Solar, Inc. has a 12-month low of $135.88 and a 12-month 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 $21.33 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. The business has a 50 day simple moving average of $208.94 and a 200 day simple moving average of $225.35.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for 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%. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $2.50 earnings per share. On average, equities research analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several analyst reports. William Blair started coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Wells Fargo & Company lowered their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded First Solar to a “hold” rating in a research note on Tuesday, November 5th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Evercore ISI dropped their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $279.04.

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.