Credit Capital Investments LLC Cuts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Credit Capital Investments LLC reduced its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,500 shares of the solar cell manufacturer's stock after selling 4,200 shares during the quarter. First Solar comprises approximately 4.7% of Credit Capital Investments LLC's portfolio, making the stock its 10th biggest position. Credit Capital Investments LLC's holdings in First Solar were worth $3,613,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Atria Investments Inc increased its position in shares of First Solar by 24.7% in the third quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer's stock valued at $618,000 after buying an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of First Solar by 239.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,153 shares of the solar cell manufacturer's stock valued at $786,000 after purchasing an additional 2,225 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of First Solar by 8.3% in the 3rd quarter. CIBC Asset Management Inc now owns 15,786 shares of the solar cell manufacturer's stock valued at $3,938,000 after purchasing an additional 1,216 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of First Solar by 404.0% in the 3rd quarter. Empowered Funds LLC now owns 7,404 shares of the solar cell manufacturer's stock valued at $1,847,000 after purchasing an additional 5,935 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of First Solar by 15.2% during the 3rd quarter. Natixis Advisors LLC now owns 72,117 shares of the solar cell manufacturer's stock valued at $17,989,000 after buying an additional 9,537 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on FSLR shares. UBS Group dropped their price objective on First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Robert W. Baird reduced their price objective on First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. Mizuho upgraded First Solar from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, Morgan Stanley dropped their price objective on First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average target price of $262.08.

First Solar Trading Up 2.2 %

Shares of NASDAQ:FSLR traded up $2.86 during midday trading on Friday, hitting $131.32. 4,507,994 shares of the stock were exchanged, compared to its average volume of 2,568,942. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52. 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's 50-day moving average price is $156.26 and its 200 day moving average price is $188.22. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by corporate insiders.

First Solar 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.