Piper Sandler Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price decreased by equities research analysts at Piper Sandler from $250.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. Piper Sandler’s price target would suggest a potential upside of 62.91% from the stock’s previous close.

A number of other research analysts also recently issued reports on FSLR. Guggenheim reissued a “buy” rating and issued a $335.00 price objective on shares of First Solar in a research note on Wednesday, January 22nd. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Tuesday, October 29th. Wells Fargo & Company cut their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Robert W. Baird cut their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $263.63.

First Solar Stock Performance

NASDAQ:FSLR opened at $141.18 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar has a fifty-two week low of $140.84 and a fifty-two week high of $306.77. The company has a 50 day simple moving average of $173.30 and a two-hundred day simple moving average of $198.68. The company has a market capitalization of $15.11 billion, a PE ratio of 12.16, a P/E/G ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Institutional Trading of First Solar

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of First Solar during the fourth quarter valued at about $317,399,000. Wellington Management Group LLP increased its stake in First Solar by 75.8% in the 3rd 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 last quarter. Demars Financial Group LLC lifted its position in shares of First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after buying an additional 718,631 shares in the last quarter. Mirova US LLC boosted its stake in shares of First Solar by 961.0% in the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after buying an additional 585,394 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

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.