NEOS Investment Management LLC Grows Stock Position in First Solar, Inc. $FSLR

NEOS Investment Management LLC increased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 45.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 12,410 shares of the solar cell manufacturer’s stock after acquiring an additional 3,891 shares during the period. NEOS Investment Management LLC’s holdings in First Solar were worth $2,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in First Solar in the second quarter valued at $212,621,000. Viking Global Investors LP raised its holdings in First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after buying an additional 854,919 shares during the period. Vanguard Group Inc. raised its holdings in First Solar by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after buying an additional 464,130 shares during the period. Atreides Management LP acquired a new position in First Solar in the second quarter valued at about $65,134,000. Finally, Ariel Investments LLC purchased a new position in First Solar during the second quarter worth about $50,869,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Down 2.2%

NASDAQ:FSLR opened at $233.30 on Friday. The stock has a fifty day moving average price of $246.28 and a 200 day moving average price of $234.41. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $285.99. The firm has a market cap of $25.04 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. TD Cowen increased their price objective on shares of First Solar from $260.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Susquehanna boosted their target price on First Solar from $285.00 to $292.00 and gave the company a “positive” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. Finally, Barclays reaffirmed an “overweight” rating and issued a $279.00 price objective on shares of First Solar in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.61.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.