UBS Group Cuts First Solar (NASDAQ:FSLR) Price Target to $285.00

First Solar (NASDAQ:FSLR) had its price target trimmed by UBS Group from $360.00 to $285.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

Several other equities analysts have also recently commented on FSLR. Citigroup decreased their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America reduced their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Truist Financial reissued a “buy” rating and set a $285.00 target price (down from $300.00) on shares of First Solar in a research note on Wednesday. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Robert W. Baird lowered their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.00.

First Solar Trading Up 6.4 %

Shares of NASDAQ FSLR opened at $156.84 on Wednesday. The stock has a fifty day simple moving average of $174.00 and a 200-day simple moving average of $199.08. First Solar has a twelve month low of $144.28 and a twelve month high of $306.77. 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 stock has a market capitalization of $16.79 billion, a PE ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.48 billion. On average, equities analysts forecast that First Solar will post 13.05 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

Hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its position in First Solar by 10.1% during the 3rd quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock worth $3,253,000 after purchasing an additional 1,197 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of First Solar by 4.9% during the third quarter. Private Advisor Group LLC now owns 3,877 shares of the solar cell manufacturer’s stock worth $967,000 after buying an additional 180 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of First Solar by 12.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,912 shares of the solar cell manufacturer’s stock worth $1,475,000 after buying an additional 636 shares during the last quarter. State of Alaska Department of Revenue increased its position in First Solar by 6.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,434 shares of the solar cell manufacturer’s stock valued at $3,101,000 after acquiring an additional 795 shares during the period. Finally, Integrated Advisors Network LLC raised its stake in First Solar by 23.4% during the 3rd quarter. Integrated Advisors Network LLC now owns 7,239 shares of the solar cell manufacturer’s stock valued at $1,806,000 after acquiring an additional 1,372 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other 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.