ING Groep NV Invests $2.60 Million in First Solar, Inc. (NASDAQ:FSLR)

ING Groep NV acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 14,750 shares of the solar cell manufacturer’s stock, valued at approximately $2,600,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Blue Trust Inc. boosted its position in shares of First Solar by 88.5% during the third quarter. Blue Trust Inc. now owns 769 shares of the solar cell manufacturer’s stock worth $192,000 after buying an additional 361 shares during the period. Raymond James & Associates raised its stake in First Solar by 10.1% during the 3rd quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock valued at $3,253,000 after acquiring an additional 1,197 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in First Solar during the 3rd quarter worth $441,000. Sequoia Financial Advisors LLC grew its stake in shares of First Solar by 5.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,585 shares of the solar cell manufacturer’s stock worth $395,000 after purchasing an additional 84 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of First Solar by 4.9% during the third quarter. Private Advisor Group LLC now owns 3,877 shares of the solar cell manufacturer’s stock valued at $967,000 after purchasing an additional 180 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on FSLR. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Robert W. Baird decreased their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Piper Sandler boosted their target price on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Finally, Susquehanna dropped their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Buy” and an average target price of $276.38.

First Solar Stock Down 5.3 %

NASDAQ:FSLR opened at $155.39 on Friday. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $176.11 and its 200 day moving average price is $200.32.

First Solar 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.