Sage Private Wealth Group LLC Takes $267,000 Position in First Solar, Inc. (NASDAQ:FSLR)

Sage Private Wealth Group LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,514 shares of the solar cell manufacturer’s stock, valued at approximately $267,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares during the period. Merewether Investment Management LP increased its stake in shares of First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after purchasing an additional 293,400 shares in the last quarter. Erste Asset Management GmbH acquired a new position in First Solar in the 3rd quarter worth about $67,652,000. Finally, International Assets Investment Management LLC boosted its position in First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after purchasing an additional 216,640 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research analyst reports. Piper Sandler upped their target price on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $218.00 to $259.00 in a research report on Tuesday. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company decreased their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $276.38.

First Solar Stock Performance

NASDAQ:FSLR opened at $161.60 on Wednesday. The company’s 50-day moving average is $182.32 and its two-hundred day moving average is $203.23. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77. 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 has a market capitalization of $17.30 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.19 and a beta of 1.47.

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.