Barclays Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price objective cut by investment analysts at Barclays from $273.00 to $236.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s target price points to a potential upside of 73.30% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday. Guggenheim lowered their target price on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Citigroup decreased their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price objective (down from $260.00) on shares of First Solar in a report on Wednesday. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded down $5.00 during midday trading on Friday, hitting $136.18. The stock had a trading volume of 5,775,244 shares, compared to its average volume of 2,608,842. The company has a market capitalization of $14.58 billion, a PE ratio of 11.73, a P/E/G ratio of 0.19 and a beta of 1.47. First Solar has a 1 year low of $133.90 and a 1 year high of $306.77. The stock has a 50 day moving average price of $173.30 and a two-hundred day moving average price of $198.68. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last released its earnings results 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). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the third quarter worth approximately $25,000. Kennebec Savings Bank purchased a new position in First Solar during the third quarter worth approximately $29,000. Larson Financial Group LLC boosted its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the period. Finally, Crews Bank & Trust acquired a new stake in shares of First Solar during the 4th quarter worth $53,000. 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.