First Solar, Inc. (NASDAQ:FSLR) Stock Position Increased by Orion Capital Management LLC

Orion Capital Management LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 11.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,990 shares of the solar cell manufacturer’s stock after buying an additional 400 shares during the period. Orion Capital Management LLC’s holdings in First Solar were worth $995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in First Solar during the third quarter valued at $25,000. Kennebec Savings Bank acquired a new position in First Solar during the third quarter valued at $29,000. Atlas Capital Advisors LLC raised its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Finally, Summit Securities Group LLC acquired a new position in First Solar during the second quarter valued at $36,000. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 3.0 %

First Solar stock opened at $200.00 on Tuesday. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77. 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 business has a 50 day moving average price of $202.37 and a two-hundred day moving average price of $225.27. The stock has a market cap of $21.41 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Bank of America lowered their target price on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Truist Financial assumed coverage on First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Roth Mkm lowered their target price on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, Morgan Stanley lowered their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $280.71.

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.