Narwhal Capital Management adds First Solar (FSLR) to its portfolio

First Solar (FSLR) : Narwhal Capital Management added new position in First Solar during the most recent quarter end. The investment management firm now holds 12,400 shares of First Solar which is valued at $602,020 , the company said in a statement filed on Jul 26, 2016 with the SEC.First Solar makes up approximately 0.18% of Narwhal Capital Management’s portfolio.

Other Hedge Funds, Including , Aviance Capital Management boosted its stake in FSLR in the latest quarter, The investment management firm added 7,648 additional shares and now holds a total of 19,833 shares of First Solar which is valued at $962,892. First Solar makes up approx 0.03% of Aviance Capital Management’s portfolio.Winslow Evans Crocker boosted its stake in FSLR in the latest quarter, The investment management firm added 128 additional shares and now holds a total of 488 shares of First Solar which is valued at $23,483. First Solar makes up approx 0.01% of Winslow Evans Crocker’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in FSLR in the latest quarter, The investment management firm added 1,266 additional shares and now holds a total of 19,850 shares of First Solar which is valued at $905,160. First Solar makes up approx 0.02% of Exxonmobil Investment Management Inc Tx’s portfolio.Dnb Asset Management As reduced its stake in FSLR by selling 135,106 shares or 26.28% in the most recent quarter. The Hedge Fund company now holds 378,919 shares of FSLR which is valued at $17,278,706. First Solar makes up approx 0.36% of Dnb Asset Management As’s portfolio.

First Solar closed down -0.45 points or -0.95% at $46.68 with 16,84,602 shares getting traded on Friday. Post opening the session at $47.25, the shares hit an intraday low of $46.52 and an intraday high of $47.44 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, First Solar reported $1.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.63 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.97. The company had revenue of $848.00 million for the quarter, compared to analysts expectations of $940.04 million. The company’s revenue was up 80.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.62 EPS.

Many Wall Street Analysts have commented on First Solar. Shares were Downgraded by Deutsche Bank on Jul 7, 2016 to ” Hold” and Lowered the Price Target to $ 44 from a previous price target of $80 .First Solar was Initiated by Wells Fargo to “Market Perform” on Jun 2, 2016. First Solar was Upgraded by Standpoint Research to ” Buy” on Apr 29, 2016.

First Solar Inc. is a global provider of solar energy solutions. The Company designs manufactures and sells photovoltaic (PV) solar modules and also develops designs constructs and sells PV solar power solutions. The Company operates through two segments: components and systems. The Company’s components segment involves the design manufacture and sale of solar modules which convert sunlight into electricity. The systems segment provides turn-key PV solar power systems or solar solutions for systems primarily using its solar modules. The Company also manufactures crystalline silicon solar modules and single-axis mounting systems with tracking capabilities. The Company offers its products and services for residential commercial and industrial applications including solar power system project developers system integrators and solar plant operators throughout the Americas Asia Australia the Middle East and Africa.

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