First Solar (NASDAQ:FSLR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of First Solar (NASDAQ:FSLR) from a sell rating to a hold rating in a report released on Thursday.

Several other equities analysts have also recently issued reports on the company. Bank of America dropped their target price on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird decreased their price objective 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. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Truist Financial began coverage on First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. Finally, Roth Mkm decreased their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $279.04.

First Solar Stock Performance

Shares of FSLR stock opened at $186.47 on Thursday. The stock’s 50-day moving average price is $192.70 and its 200 day moving average price is $214.57. First Solar has a 52-week low of $135.88 and a 52-week high of $306.77. The stock has a market capitalization of $19.96 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned $2.50 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that First Solar will post 13.15 EPS for the current year.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position 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 purchasing an additional 276 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of First Solar by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 50,979 shares of the solar cell manufacturer’s stock valued at $11,494,000 after acquiring an additional 1,862 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of First Solar during the second quarter worth about $14,109,000. Oregon Public Employees Retirement Fund lifted its stake in shares of First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after acquiring an additional 49 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in First Solar by 3.9% during the 2nd quarter. TD Asset Management Inc now owns 37,293 shares of the solar cell manufacturer’s stock valued at $8,408,000 after purchasing an additional 1,408 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

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.