SteelPeak Wealth LLC Has $1.07 Million Position in First Solar, Inc. (NASDAQ:FSLR)

SteelPeak Wealth LLC lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 247.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,087 shares of the solar cell manufacturer's stock after purchasing an additional 4,337 shares during the quarter. SteelPeak Wealth LLC's holdings in First Solar were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. AlphaMark Advisors LLC acquired a new stake in First Solar in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar in the 3rd quarter worth about $29,000. Larson Financial Group LLC lifted its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of First Solar by 555.6% in the 3rd quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer's stock worth $59,000 after acquiring an additional 200 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Up 0.8 %

Shares of NASDAQ:FSLR traded up $1.38 during midday trading on Thursday, reaching $167.39. 1,375,167 shares of the company were exchanged, compared to its average volume of 2,350,879. The firm has a market cap of $17.92 billion, a PE ratio of 14.42, a P/E/G ratio of 0.20 and a beta of 1.49. 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 fifty day simple moving average of $187.57 and a two-hundred day simple moving average of $206.63. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $2.50 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent analyst reports. Seaport Res Ptn raised First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Piper Sandler boosted their target price on shares of First Solar from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Guggenheim reissued a "buy" rating and set a $335.00 price target on shares of First Solar in a research note on Wednesday, January 22nd. Mizuho dropped their price objective on shares of First Solar from $274.00 to $257.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $276.29.

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.