By otakuyassine3@gmail.com 
Shares of First Solar, Inc. (NASDAQ:FSLR – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $279.04.
Several equities research analysts recently weighed in on FSLR shares. Piper Sandler boosted their price objective on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Guggenheim dropped their price target on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, Susquehanna decreased their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th.
Check Out Our Latest Analysis on First Solar
Institutional Trading of First Solar
Institutional investors have recently added to or reduced their stakes in the business. Electron Capital Partners LLC lifted its stake in shares of 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 valued at $1,729,223,000 after acquiring an additional 7,660,409 shares during the last quarter. Wellington Management Group LLP increased its stake in First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after purchasing an additional 516,783 shares during the last quarter. Merewether Investment Management LP boosted its stake in shares of First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after purchasing an additional 293,400 shares during the period. Finally, Erste Asset Management GmbH bought a new position in shares of First Solar in the third quarter worth approximately $67,652,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.
First Solar Stock Down 0.1 %
FSLR opened at $186.21 on Thursday. The company’s 50-day moving average price is $194.84 and its two-hundred day moving average price is $218.56. 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 has a twelve month low of $135.88 and a twelve month high of $306.77. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 0.35 and a beta of 1.46.
First Solar (NASDAQ:FSLR – Get Free Report) last announced its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company posted $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts expect that First Solar will post 13.15 earnings per share for the current year.
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.
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