Piper Sandler Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price decreased by stock analysts at Piper Sandler from $250.00 to $230.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. Piper Sandler’s target price would indicate a potential upside of 42.79% from the company’s previous close.

FSLR has been the subject of several other reports. Susquehanna reduced their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company cut their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Barclays lowered their price target on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Truist Financial restated a “buy” rating and set a $285.00 target price (down previously from $300.00) on shares of First Solar in a research report on Wednesday. Finally, Bank of America decreased their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.13.

First Solar Stock Performance

Shares of First Solar stock traded up $13.62 on Wednesday, reaching $161.08. 5,028,474 shares of the company were exchanged, compared to its average volume of 2,414,456. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 0.19 and a beta of 1.47. First Solar has a 1-year low of $144.28 and a 1-year high of $306.77. The company’s 50-day moving average is $174.55 and its two-hundred day moving average is $199.38.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts expect that First Solar will post 13.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in shares of First Solar by 4.7% during the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after purchasing an additional 738 shares during the period. Amiral Gestion purchased a new position in First Solar in the 4th quarter valued at $529,000. Wormser Freres Gestion increased its position in shares of First Solar by 54.7% during the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock worth $195,000 after purchasing an additional 378 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of First Solar in the 4th quarter valued at $2,129,000. Finally, JT Stratford LLC acquired a new stake in First Solar during the 4th quarter worth approximately $370,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.