Barclays Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price decreased by equities research analysts at Barclays from $273.00 to $236.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s price target indicates a potential upside of 73.30% from the company’s current price.

Several other brokerages have also recently issued reports on FSLR. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a research report on Wednesday. Piper Sandler decreased their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Guggenheim decreased their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Trading Down 3.5 %

Shares of NASDAQ FSLR opened at $136.18 on Friday. 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 52-week low of $133.90 and a 52-week high of $306.77. The firm has a 50 day moving average price of $172.38 and a two-hundred day moving average price of $197.88. The stock has a market cap of $14.58 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of First Solar during the 4th quarter valued at $317,399,000. Wellington Management Group LLP boosted its holdings in shares of First Solar by 75.8% during 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 in the last quarter. Demars Financial Group LLC boosted its stake in First Solar by 17,404.5% in the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after purchasing an additional 718,631 shares in the last quarter. Mirova US LLC boosted its stake in 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 purchasing an additional 585,394 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.