Investment Management Corp of Ontario Buys 3,794 Shares of First Solar, Inc. (NASDAQ:FSLR)

Investment Management Corp of Ontario grew its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 169.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,027 shares of the solar cell manufacturer's stock after acquiring an additional 3,794 shares during the quarter. Investment Management Corp of Ontario's holdings in First Solar were worth $1,503,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new position in First Solar in the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the 3rd quarter valued at $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar in the 3rd quarter valued at $29,000. Atlas Capital Advisors LLC grew its stake in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock worth $31,000 after purchasing an additional 111 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of First Solar during the second quarter worth $36,000. Institutional investors own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FSLR. Bank of America decreased their price objective on First Solar from $321.00 to $269.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Piper Sandler lifted their price objective on First Solar from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday. BMO Capital Markets reiterated an "outperform" rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Truist Financial started coverage on First Solar in a report on Thursday, September 26th. They set a "buy" rating and a $300.00 target price on the stock. Finally, Roth Mkm reduced their target price on First Solar from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $280.71.

First Solar Trading Down 1.9 %

First Solar stock traded down $3.74 during mid-day trading on Friday, reaching $194.19. 2,220,549 shares of the company traded hands, compared to its average volume of 2,520,641. 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's 50 day moving average price is $204.59 and its 200 day moving average price is $225.72. The firm has a market capitalization of $20.79 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 0.36 and a beta of 1.46. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $2.50 EPS. The business's quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

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.