National Bank of Canada FI Acquires 28,153 Shares of First Solar, Inc. (NASDAQ:FSLR)

National Bank of Canada FI increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 33.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,675 shares of the solar cell manufacturer's stock after acquiring an additional 28,153 shares during the period. National Bank of Canada FI owned about 0.11% of First Solar worth $28,106,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Brookfield Corp ON raised its holdings in shares of First Solar by 75.3% in the third quarter. Brookfield Corp ON now owns 13,485 shares of the solar cell manufacturer's stock valued at $3,364,000 after buying an additional 5,794 shares during the last quarter. iA Global Asset Management Inc. lifted its position in shares of First Solar by 802.1% during the third quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer's stock worth $5,104,000 after purchasing an additional 18,192 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of First Solar during the third quarter valued at approximately $913,000. Wellington Management Group LLP raised its position in First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Finally, Wahed Invest LLC lifted its holdings in First Solar by 10.8% during the 3rd quarter. Wahed Invest LLC now owns 2,588 shares of the solar cell manufacturer's stock worth $646,000 after buying an additional 252 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Stock Up 1.5 %

Shares of NASDAQ FSLR traded up $2.92 during midday trading on Tuesday, reaching $202.92. The company's stock had a trading volume of 2,429,944 shares, compared to its average volume of 2,518,032. The stock has a market capitalization of $21.72 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.34 and a beta of 1.46. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The stock has a 50 day simple moving average of $202.37 and a 200-day simple moving average of $225.27. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $2.50 EPS. First Solar's revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FSLR. BMO Capital Markets restated an "outperform" rating and set a $260.00 target price (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Jefferies Financial Group lowered their price target on shares of First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada cut their price objective on shares of First Solar from $315.00 to $280.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a report on Wednesday, October 9th. Finally, Bank of America reduced their price target on First Solar from $321.00 to $269.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $280.71.

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.