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 - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 made changes to their positions in the business. Gilman Hill Asset Management LLC lifted its stake in shares of First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer's stock worth $455,000 after purchasing an additional 50 shares in the last quarter. Covestor Ltd boosted its stake in First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer's stock valued at $229,000 after acquiring an additional 55 shares during the period. Field & Main Bank raised its position in shares of First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer's stock worth $345,000 after purchasing an additional 55 shares during the period. Clear Harbor Asset Management LLC boosted its position in First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock valued at $1,623,000 after purchasing an additional 55 shares during the period. Finally, Demars Financial Group LLC grew its stake in First Solar by 1.4% during the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer's stock worth $1,030,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FSLR. Bank of America lowered their target price on First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley decreased their target price on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Guggenheim restated a "buy" rating and set a $335.00 price target on shares of First Solar in a research report on Wednesday, January 22nd. Piper Sandler increased their price objective on shares of First Solar from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Finally, StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, First Solar has a consensus rating of "Buy" and an average target price of $276.38.

First Solar Stock Down 1.9 %

Shares of First Solar stock traded down $2.99 during trading on Wednesday, hitting $158.61. 1,959,369 shares of the stock traded hands, compared to its average volume of 2,259,665. The company has a fifty day moving average price of $181.46 and a two-hundred day moving average price of $202.92. First Solar, Inc. has a twelve month low of $141.70 and a twelve month high of $306.77. The stock has a market cap of $16.98 billion, a P/E ratio of 13.66, a PEG ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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.