Amalgamated Bank Boosts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Amalgamated Bank increased its holdings in First Solar, Inc. (NASDAQ:FSLRFree Report) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,895 shares of the solar cell manufacturer’s stock after purchasing an additional 3,866 shares during the period. Amalgamated Bank’s holdings in First Solar were worth $4,831,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. increased its position in First Solar by 19.0% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 47,483 shares of the solar cell manufacturer’s stock valued at $7,673,000 after acquiring an additional 7,570 shares during the last quarter. New York Life Investment Management LLC increased its position in First Solar by 7.1% during the third quarter. New York Life Investment Management LLC now owns 16,069 shares of the solar cell manufacturer’s stock valued at $2,597,000 after acquiring an additional 1,062 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new position in First Solar during the third quarter valued at $945,000. Hussman Strategic Advisors Inc. bought a new position in First Solar during the third quarter valued at $848,000. Finally, Great Lakes Advisors LLC boosted its stake in shares of First Solar by 20.2% during the third quarter. Great Lakes Advisors LLC now owns 3,998 shares of the solar cell manufacturer’s stock valued at $646,000 after purchasing an additional 671 shares during the period. Institutional investors own 82.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $158.00, for a total value of $379,200.00. Following the completion of the sale, the insider now directly owns 44,441 shares of the company’s stock, valued at approximately $7,021,678. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of First Solar from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $215.00 to $187.00 in a research note on Monday, January 8th. UBS Group cut their price objective on shares of First Solar from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Morgan Stanley upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $214.00 to $237.00 in a report on Friday, December 8th. JPMorgan Chase & Co. upgraded First Solar from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $239.00 to $220.00 in a research report on Thursday, October 19th. Finally, BMO Capital Markets lowered their price objective on First Solar from $226.00 to $216.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $234.00.

Get Our Latest Research Report on First Solar

First Solar Trading Up 3.1 %

Shares of FSLR stock opened at $145.46 on Thursday. The stock’s fifty day moving average is $157.01 and its two-hundred day moving average is $164.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.45 and a current ratio of 3.19. The firm has a market capitalization of $15.54 billion, a P/E ratio of 32.91 and a beta of 1.41. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00.

About First Solar

(Free Report)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

Further Reading

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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