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

Shares of First Solar, Inc. (NASDAQ:FSLR) have earned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $277.75.

FSLR has been the topic of several analyst reports. Truist Financial began coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. Wells Fargo & Company cut their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Piper Sandler raised their target price on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Bank of America cut their price target on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th.

First Solar Stock Down 1.0 %

Shares of NASDAQ FSLR opened at $189.24 on Monday. The firm has a fifty day moving average of $191.64 and a 200-day moving average of $211.08. The stock has a market capitalization of $20.26 billion, a PE ratio of 16.30, a P/E/G ratio of 0.35 and a beta of 1.49. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 52-week low of $135.88 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.50 earnings per share. On average, analysts anticipate that First Solar will post 13.15 EPS for the current year.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently made changes to their positions in the business. AlphaMark Advisors LLC bought a new position in First Solar in the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank bought a new position in shares of First Solar in the third quarter valued at approximately $29,000. Larson Financial Group LLC increased its stake in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in First Solar during the second quarter worth approximately $38,000. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.