Arosa Capital Management LP Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Arosa Capital Management LP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 38,400 shares of the solar cell manufacturer’s stock, valued at approximately $9,578,000. First Solar comprises 3.7% of Arosa Capital Management LP’s investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in FSLR. Electron Capital Partners LLC raised its holdings in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of First Solar by 0.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after acquiring an additional 15,890 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in First Solar by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock valued at $331,924,000 after purchasing an additional 90,249 shares in the last quarter. Dimensional Fund Advisors LP raised its position in First Solar by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock valued at $179,478,000 after purchasing an additional 64,265 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of First Solar by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 716,104 shares of the solar cell manufacturer’s stock worth $178,625,000 after buying an additional 34,738 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 3.5 %

FSLR stock opened at $199.27 on Monday. The company’s 50 day simple moving average is $208.12 and its 200-day simple moving average is $225.68. First Solar, Inc. has a 52-week low of $135.88 and a 52-week 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 $21.33 billion, a P/E ratio of 17.16, a P/E/G ratio of 0.35 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FSLR shares. Barclays reduced their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI decreased their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Piper Sandler reduced their price target on shares of First Solar from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group decreased their target price on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $279.04.

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.