First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $262.08.

A number of research analysts have recently commented on the stock. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Morgan Stanley dropped their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Citigroup dropped their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Piper Sandler dropped their target price 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, February 26th.

First Solar Price Performance

NASDAQ:FSLR opened at $127.63 on Tuesday. First Solar has a 12-month low of $126.54 and a 12-month high of $306.77. The company’s 50-day moving average is $171.20 and its two-hundred day moving average is $196.97. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth 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 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Research analysts expect that First Solar will post 13.05 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter valued at $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar during the third quarter valued at $29,000. Larson Financial Group LLC increased 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 valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Finally, Crews Bank & Trust acquired a new position in shares of First Solar during the fourth quarter valued at $53,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.