First Solar, Inc. (NASDAQ:FSLR) Receives Average Rating of “Moderate Buy” from Brokerages

First Solar, Inc. (NASDAQ:FSLR) has received an average recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $279.04.

A number of analysts have commented on FSLR shares. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Piper Sandler raised their price objective on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. William Blair assumed coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Guggenheim dropped their price target on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th.

First Solar Stock Performance

Shares of FSLR opened at $184.27 on Thursday. First Solar has a one year low of $135.88 and a one year high of $306.77. The company has a market cap of $19.73 billion, a PE ratio of 15.87, a P/E/G ratio of 0.35 and a beta of 1.46. The stock has a 50-day moving average of $197.18 and a 200-day moving average of $221.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Electron Capital Partners LLC boosted its holdings in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. Wellington Management Group LLP boosted its stake in First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. grew its position in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after buying an additional 516,783 shares in the last quarter. Merewether Investment Management LP increased its stake in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after acquiring an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of First Solar in the 3rd quarter valued at about $67,652,000. 92.08% of the stock is currently 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.