First Solar (NASDAQ:FSLR) Lowered to Neutral at Janney Montgomery Scott

Janney Montgomery Scott downgraded shares of First Solar (NASDAQ:FSLR) from a buy rating to a neutral rating in a research report report published on Tuesday, Marketbeat.com reports.

A number of other equities analysts have also weighed in on FSLR. Oppenheimer increased their price target on First Solar from $271.00 to $325.00 and gave the company an outperform rating in a research report on Wednesday, June 12th. Royal Bank of Canada reiterated an outperform rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Piper Sandler increased their price target on First Solar from $195.00 to $219.00 and gave the company an overweight rating in a research report on Tuesday, May 21st. Evercore ISI upgraded First Solar from an in-line rating to an outperform rating and set a $227.00 price target for the company in a research report on Tuesday, April 23rd. Finally, Mizuho reiterated a neutral rating and issued a $274.00 price target (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $265.72.

First Solar Price Performance

NASDAQ:FSLR opened at $262.37 on Tuesday. The business’s 50-day moving average price is $219.14 and its 200 day moving average price is $178.86. The firm has a market cap of $28.08 billion, a P/E ratio of 27.27, a PEG ratio of 0.36 and a beta of 1.47. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The firm had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. First Solar’s revenue was up 44.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 earnings per share. As a group, sell-side analysts predict that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Caroline Stockdale sold 12,406 shares of First Solar stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total value of $2,543,230.00. Following the completion of the transaction, the insider now directly owns 22,025 shares in the company, valued at $4,515,125. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,269 shares of company stock valued at $13,287,671. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar in the fourth quarter valued at $27,000. Estabrook Capital Management acquired a new position in shares of First Solar in the third quarter valued at $29,000. Baystate Wealth Management LLC acquired a new position in shares of First Solar in the fourth quarter valued at $29,000. Finally, Headinvest LLC acquired a new position in shares of First Solar in the third quarter valued at $30,000. 92.08% of the stock is owned by institutional investors.

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.