Bornite Capital Management LP Makes New $22.05 Million Investment in First Solar, Inc. $FSLR

Bornite Capital Management LP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the solar cell manufacturer’s stock, valued at approximately $22,053,000. First Solar comprises about 2.0% of Bornite Capital Management LP’s holdings, making the stock its 21st biggest holding.

A number of other large investors have also added to or reduced their stakes in FSLR. Strategic Wealth Investment Group LLC purchased a new position in shares of First Solar during the 2nd quarter valued at $26,000. Hantz Financial Services Inc. boosted its stake in First Solar by 69.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares during the period. Total Investment Management Inc. purchased a new position in First Solar during the 2nd quarter valued at about $36,000. Private Trust Co. NA lifted its holdings in shares of First Solar by 2,610.0% in the second quarter. Private Trust Co. NA now owns 271 shares of the solar cell manufacturer’s stock worth $45,000 after buying an additional 261 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in First Solar during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FSLR shares. Rothschild & Co Redburn lifted their price objective on First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Needham & Company LLC initiated coverage on shares of First Solar in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price objective 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. Seaport Research Partners increased their price target on shares of First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $316.00 target price on shares of First Solar in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $275.61.

First Solar Stock Up 5.5%

Shares of NASDAQ:FSLR opened at $238.57 on Thursday. The stock has a market capitalization of $25.60 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60. The stock’s 50-day moving average price is $247.08 and its 200-day moving average price is $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.

First Solar Company 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.