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

First Solar (NASDAQ:FSLR) had its price objective reduced by Piper Sandler from $245.00 to $210.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

Several other equities research analysts have also weighed in on FSLR. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Evercore ISI lowered their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Barclays cut their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company cut their price target on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Price Performance

NASDAQ:FSLR opened at $192.82 on Friday. The business’s 50-day moving average price is $211.84 and its 200 day moving average price is $225.80. The firm has a market cap of $20.64 billion, a P/E ratio of 16.61, a PEG ratio of 0.33 and a beta of 1.48. First Solar has a 52-week low of $135.88 and a 52-week high of $306.77. 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 (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $2.50 EPS. As a group, sell-side analysts predict that First Solar will post 13.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

Large investors have recently modified their holdings of the business. AlphaMark Advisors LLC bought a new position in shares of First Solar during the third quarter worth about $25,000. Strengthening Families & Communities LLC bought a new position in shares of First Solar during the third quarter worth about $25,000. Kennebec Savings Bank bought a new position in shares of First Solar during the third quarter worth about $29,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings 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 worth $39,000 after buying an additional 107 shares in the last quarter. 92.08% of the stock is currently owned by 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.