First Solar (NASDAQ:FSLR) Raised to “Strong-Buy” at Seaport Res Ptn

Seaport Res Ptn upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports. Seaport Res Ptn also issued estimates for First Solar’s Q4 2024 earnings at $4.87 EPS and FY2024 earnings at $13.23 EPS.

Other equities analysts have also issued reports about the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Barclays decreased their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Jefferies Financial Group cut their target price on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Mizuho decreased their price target on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Susquehanna cut their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Trading Up 2.2 %

Shares of FSLR stock opened at $190.89 on Wednesday. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The firm’s 50-day simple moving average is $190.20 and its 200-day simple moving average is $210.03. The firm has a market cap of $20.44 billion, a P/E ratio of 16.44, a PEG ratio of 0.21 and a beta of 1.49. 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 announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company 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 firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 earnings per share. As a group, equities analysts forecast that First Solar will post 13.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Western Financial Corp CA acquired a new position in shares of First Solar during the third quarter valued at $1,209,000. Stifel Financial Corp lifted its position in First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after purchasing an additional 5,780 shares during the last quarter. Harbour Capital Advisors LLC boosted its stake in First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after purchasing an additional 3,607 shares during the period. iA Global Asset Management Inc. grew its position in First Solar by 802.1% in the 3rd quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock worth $5,104,000 after purchasing an additional 18,192 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of First Solar by 6.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock valued at $60,898,000 after purchasing an additional 14,597 shares during the period. 92.08% of the stock is currently owned by 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.