Sycomore Asset Management Sells 4,270 Shares of First Solar, Inc. (NASDAQ:FSLR)

Sycomore Asset Management lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 43.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,544 shares of the solar cell manufacturer's stock after selling 4,270 shares during the quarter. Sycomore Asset Management's holdings in First Solar were worth $977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC bought a new stake in First Solar in the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new stake in First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in First Solar in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC increased its stake in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock worth $39,000 after acquiring an additional 107 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in First Solar in the 4th quarter worth approximately $53,000. Institutional investors own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of research reports. 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, December 2nd. Evercore ISI reduced their price objective on First Solar from $281.00 to $278.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Morgan Stanley dropped their target price on First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Finally, Robert W. Baird dropped their target price on First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $276.38.

First Solar Stock Up 1.1 %

Shares of FSLR traded up $1.73 during trading hours on Thursday, hitting $160.34. The company had a trading volume of 1,423,228 shares, compared to its average volume of 2,230,941. The company has a market capitalization of $17.17 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. 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, Inc. has a one year low of $141.70 and a one year high of $306.77. The company's fifty day moving average price is $180.71 and its two-hundred day moving average price is $202.62.

About First Solar

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.