CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $6.17 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the solar cell manufacturer’s stock after selling 1,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in First Solar were worth $6,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Secure Asset Management LLC raised its holdings in shares of First Solar by 18.3% in the 4th quarter. Secure Asset Management LLC now owns 6,687 shares of the solar cell manufacturer’s stock worth $1,179,000 after buying an additional 1,034 shares in the last quarter. Whalen Wealth Management Inc. grew its position in First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares during the period. Mutual Advisors LLC raised its stake in First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after acquiring an additional 73 shares in the last quarter. True North Advisors LLC lifted its holdings in shares of First Solar by 58.5% during the fourth quarter. True North Advisors LLC now owns 1,347 shares of the solar cell manufacturer’s stock valued at $237,000 after acquiring an additional 497 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of First Solar by 125.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,513 shares of the solar cell manufacturer’s stock valued at $1,148,000 after purchasing an additional 3,618 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

FSLR opened at $168.25 on Friday. The stock has a market cap of $18.01 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.20 and a beta of 1.49. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $189.11 and a 200 day simple moving average of $208.18.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts expect that First Solar, Inc. will post 13.07 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada reduced their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and issued a $335.00 price objective on shares of First Solar in a research report on Wednesday. Robert W. Baird reduced their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Finally, Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

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.