Advisors Preferred LLC Makes New $1.24 Million Investment in First Solar, Inc. (NASDAQ:FSLR)

Advisors Preferred LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,662 shares of the solar cell manufacturer’s stock, valued at approximately $1,242,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the third quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new position in shares of First Solar during the third quarter worth about $25,000. Kennebec Savings Bank acquired a new stake in First Solar during the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC lifted its position in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the period. Finally, Crews Bank & Trust bought a new position in First Solar during the fourth quarter worth $53,000. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $168.34 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The business has a 50-day simple moving average of $184.14 and a two-hundred day simple moving average of $204.31. First Solar, Inc. has a fifty-two week low of $141.70 and a fifty-two week high of $306.77. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI dropped their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays lowered their price target on First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Mizuho dropped their price objective on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Susquehanna dropped their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $276.29.

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.