First Solar (NASDAQ:FSLR) Stock Price Expected to Rise, Piper Sandler Analyst Says

First Solar (NASDAQ:FSLR) had its price objective raised by equities research analysts at Piper Sandler from $210.00 to $250.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. Piper Sandler’s price target would suggest a potential upside of 20.48% from the stock’s previous close.

FSLR has been the topic of a number of other research reports. Truist Financial initiated coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Morgan Stanley lowered their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Susquehanna lowered their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Finally, Barclays lowered their target price on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.71.

First Solar Stock Performance

Shares of FSLR stock opened at $207.51 on Monday. First Solar has a 12 month low of $135.88 and a 12 month high of $306.77. The stock has a market cap of $22.22 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.36 and a beta of 1.46. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average price is $207.29 and its 200-day moving average price is $226.01.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. On average, equities analysts expect that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in First Solar by 6.9% in the first quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer’s stock worth $3,019,000 after buying an additional 1,161 shares during the last quarter. Cetera Investment Advisers boosted its stake in First Solar by 1,400.4% during the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after buying an additional 22,392 shares during the period. Cetera Advisors LLC boosted its stake in First Solar by 100.3% during the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock worth $928,000 after buying an additional 2,753 shares during the period. GAMMA Investing LLC lifted its position in shares of First Solar by 54.9% during the second quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer’s stock worth $383,000 after purchasing an additional 602 shares during the last quarter. Finally, First Hawaiian Bank bought a new stake in shares of First Solar during the second quarter worth $537,000. 92.08% of the stock is currently owned by 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.