First Solar (NASDAQ:FSLR) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of First Solar (NASDAQ:FSLR) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

FSLR has been the subject of a number of other research reports. Truist Financial initiated coverage on First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Wells Fargo & Company decreased their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, August 1st. Oppenheimer increased their price target on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $260.00 target price (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Trading Up 0.3 %

First Solar stock traded up $0.67 during trading hours on Tuesday, reaching $195.81. The company had a trading volume of 1,570,049 shares, compared to its average volume of 2,524,435. The firm has a market cap of $20.96 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 0.32 and a beta of 1.48. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a 50-day moving average price of $216.64 and a 200 day moving average price of $225.16.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. Equities analysts forecast that First Solar will post 13.16 earnings per share for the current year.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently modified their holdings of FSLR. Electron Capital Partners LLC lifted its stake in First Solar by 81,947.0% during 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 period. Robeco Institutional Asset Management B.V. raised its holdings in shares of First Solar by 1,757.2% during 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. Erste Asset Management GmbH purchased a new stake in First Solar in the third quarter worth approximately $67,652,000. Anomaly Capital Management LP bought a new stake in First Solar in the 2nd quarter worth approximately $53,752,000. Finally, International Assets Investment Management LLC raised its stake in First Solar by 24,844.0% during the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after buying an additional 216,640 shares during 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.