Nordea Investment Management AB Has $3.60 Million Stake in First Solar, Inc. (FSLR)
Nordea Investment Management AB lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 47.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 78,500 shares of the solar cell manufacturer’s stock after selling 70,400 shares during the period. Nordea Investment Management AB owned about 0.08% of First Solar worth $3,602,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FSLR. Schroder Investment Management Group raised its stake in shares of First Solar by 12,600.7% during the second quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after acquiring an additional 1,666,064 shares during the last quarter. Key Square Capital Management LLC bought a new position in shares of First Solar during the third quarter valued at $23,621,000. Ecofin Ltd. bought a new position in shares of First Solar during the second quarter valued at $19,485,000. Lord Abbett & CO. LLC bought a new position in shares of First Solar during the second quarter valued at $15,099,000. Finally, Gotham Asset Management LLC bought a new position in shares of First Solar during the second quarter valued at $14,135,000. 51.21% of the stock is owned by hedge funds and other institutional investors.
Shares of First Solar, Inc. (NASDAQ:FSLR) opened at $60.30 on Monday. First Solar, Inc. has a 52 week low of $25.56 and a 52 week high of $63.10. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. The firm has a market cap of $6,297.31, a price-to-earnings ratio of 14.78 and a beta of 2.03.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The business’s revenue was up 59.5% compared to the same quarter last year. equities research analysts predict that First Solar, Inc. will post 2.47 EPS for the current year.
A number of brokerages recently weighed in on FSLR. JMP Securities set a $67.00 target price on shares of First Solar and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Vetr raised shares of First Solar from a “sell” rating to a “hold” rating and set a $47.67 target price for the company in a research note on Wednesday, August 16th. ValuEngine raised shares of First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Axiom Securities reissued a “buy” rating on shares of First Solar in a research note on Wednesday, August 30th. Finally, Bank of America reissued a “buy” rating and set a $64.00 target price on shares of First Solar in a research note on Tuesday, August 29th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $53.84.
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About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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