First Solar, Inc. (ticker FSLR), formerly known as First Solar Holdings, Inc., is an Arizona-based solar technology company that manufactures and sells photovoltaic cells (PV) solar energy solutions all over the world.
On September 21, First Solar, Inc. announced that it has started construction of its manufacturing plant in New Iberia and it expects the plant to be fully operational by 2026. The company expects that the plant will increase the manufacturing capacity of the company by 3.5 gigawatts to around 14 gigawatts in the U.S. and 25 gigawatts globally.
According to Insider Monkey’s database that tracks 910 elite hedge funds, hedge funds were quite bullish on First Solar, Inc. in Q2 as the number of hedge funds increased to 51 in Q2 from 39 in Q1. Samlyn Capital increased its holding in the company by 126% in Q2 to 1.26 million shares worth $239.587 million.
On October 20, Exane BNP Paribas initiated coverage of First Solar, Inc. stock with a price target of $237 and an Outperform rating.