First Solar, Inc. (NASDAQ:FSLR – Get Free Report)’s share price was down 2.1% on Tuesday after Robert W. Baird lowered their price target on the stock from $344.00 to $307.00. Robert W. Baird currently has an outperform rating on the stock. First Solar traded as low as $217.55 and last traded at $218.03. Approximately 848,042 shares were traded during trading, a decline of 66% from the average daily volume of 2,486,547 shares. The stock had previously closed at $222.71.
A number of other brokerages have also recently weighed in on FSLR. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. The Goldman Sachs Group upped their price objective on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Roth Mkm reissued a “buy” rating and issued a $320.00 price objective (up from $230.00) on shares of First Solar in a research report on Friday, May 31st. Oppenheimer upped their price objective on shares of First Solar from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Finally, Jefferies Financial Group upped their price objective on shares of First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $266.04.
View Our Latest Report on First Solar
Insider Buying and Selling
Institutional Investors Weigh In On First Solar
Large investors have recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar in the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar in the fourth quarter valued at approximately $27,000. Baystate Wealth Management LLC bought a new position in shares of First Solar in the fourth quarter valued at approximately $29,000. Headinvest LLC bought a new position in shares of First Solar in the third quarter valued at approximately $30,000. Finally, Riverview Trust Co bought a new position in shares of First Solar in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.08% of the company’s stock.
First Solar Stock Down 2.7 %
The firm’s fifty day moving average price is $234.23 and its 200-day moving average price is $186.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The firm has a market capitalization of $23.20 billion, a P/E ratio of 22.72, a PEG ratio of 0.30 and a beta of 1.44.
First Solar (NASDAQ:FSLR – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business’s revenue was up 44.8% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. As a group, equities research analysts forecast that First Solar, Inc. will post 13.59 earnings per share for the current year.
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.
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