First Solar (NASDAQ:FSLR) Stock Rating Lowered by StockNews.com

First Solar (NASDAQ:FSLR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other research firms have also issued reports on FSLR. Truist Financial started coverage on shares of First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. UBS Group boosted their price target on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Susquehanna lowered their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, William Blair initiated coverage on shares of First Solar in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $281.13.

First Solar Stock Performance

Shares of FSLR stock opened at $204.94 on Thursday. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The firm’s 50-day simple moving average is $221.68 and its two-hundred day simple moving average is $223.93.

First Solar (NASDAQ:FSLR) last announced 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). The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 EPS. As a group, equities analysts forecast that First Solar will post 13.18 earnings per share for the current year.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock valued at $2,405,757. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of large investors have recently added to or reduced their stakes in FSLR. Electron Capital Partners LLC grew 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 worth $1,729,223,000 after acquiring an additional 7,660,409 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of 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 during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares during the period. Anomaly Capital Management LP purchased a new stake in shares of First Solar in the 2nd quarter worth about $53,752,000. Finally, International Assets Investment Management LLC lifted its position in shares of First Solar by 24,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after purchasing an additional 216,640 shares during the period. 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.