First Solar (NASDAQ:FSLR) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of First Solar (NASDAQ:FSLR) from a hold rating to a sell rating in a research note published on Wednesday.

A number of other equities analysts have also weighed in on FSLR. Truist Financial assumed coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. The Goldman Sachs Group reduced their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group cut their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird cut their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Trading Down 0.6 %

Shares of FSLR stock opened at $182.63 on Wednesday. The firm has a fifty day moving average price of $194.09 and a 200-day moving average price of $217.65. The company has a market cap of $19.55 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.35 and a beta of 1.46. First Solar has a 1 year low of $135.88 and a 1 year 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.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm 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 for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.50 earnings per share. As a group, equities analysts predict that First Solar will post 13.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its stake in shares of First Solar by 5.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,548 shares of the solar cell manufacturer’s stock worth $1,251,000 after acquiring an additional 276 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of First Solar in the second quarter worth $285,000. Banco Santander S.A. lifted its stake in shares of First Solar by 78.7% during the second quarter. Banco Santander S.A. now owns 2,850 shares of the solar cell manufacturer’s stock worth $643,000 after buying an additional 1,255 shares during the period. F M Investments LLC purchased a new stake in shares of First Solar during the second quarter valued at $2,207,000. Finally, UMB Bank n.a. increased its position in shares of First Solar by 17.7% in the 2nd quarter. UMB Bank n.a. now owns 552 shares of the solar cell manufacturer’s stock valued at $124,000 after acquiring an additional 83 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.