First Solar’s (FSLR) Outperform Rating Reiterated at BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of First Solar (NASDAQ:FSLR) in a research note released on Wednesday,Benzinga reports. BMO Capital Markets currently has a $230.00 price target on the solar cell manufacturer’s stock, down from their previous price target of $260.00.

A number of other equities analysts also recently commented on FSLR. Royal Bank of Canada cut their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Piper Sandler increased their price target on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Truist Financial reaffirmed a “buy” rating and issued a $285.00 price target (down from $300.00) on shares of First Solar in a report on Wednesday. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group lowered their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Three investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Trading Down 3.5 %

Shares of First Solar stock opened at $136.18 on Wednesday. First Solar has a fifty-two week low of $133.90 and a fifty-two week high of $306.77. The business’s fifty day moving average is $172.38 and its two-hundred day moving average is $198.11. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $14.58 billion, a PE ratio of 11.73, a P/E/G ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last released its earnings results 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 business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in First Solar in the 4th quarter valued at approximately $43,442,000. Mackenzie Financial Corp lifted its stake in shares of First Solar by 4.7% in the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after acquiring an additional 738 shares during the last quarter. Amiral Gestion acquired a new stake in shares of First Solar during the 4th quarter valued at $529,000. Wormser Freres Gestion increased its holdings in First Solar by 54.7% in the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock worth $195,000 after purchasing an additional 378 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in First Solar in the fourth quarter valued at about $2,129,000. Institutional investors and hedge funds 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.