First Solar (NASDAQ:FSLR) Price Target Lowered to $217.00 at Susquehanna

First Solar (NASDAQ:FSLR) had its price objective lowered by investment analysts at Susquehanna from $223.00 to $217.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price target indicates a potential upside of 65.43% from the company’s current price.

Other research analysts have also issued reports about the company. Bank of America cut their target price on First Solar from $236.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Piper Sandler decreased their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Guggenheim cut their price target on shares of First Solar from $304.00 to $253.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Roth Mkm reiterated a “buy” rating and set a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. Four 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

First Solar Trading Up 4.2 %

FSLR stock traded up $5.24 during midday trading on Monday, hitting $131.17. The stock had a trading volume of 888,712 shares, compared to its average volume of 2,729,539. First Solar has a 12-month low of $116.56 and a 12-month high of $306.77. The firm has a market cap of $14.04 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company’s 50-day moving average price is $139.83 and its 200 day moving average price is $175.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, General Counsel Jason E. Dymbort sold 363 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $48,551.25. Following the transaction, the general counsel now owns 22,273 shares of the company’s stock, valued at approximately $2,979,013.75. This represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 229 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the sale, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently modified their holdings of FSLR. Clean Yield Group raised its holdings in First Solar by 5.7% during the 1st quarter. Clean Yield Group now owns 29,049 shares of the solar cell manufacturer’s stock worth $3,673,000 after buying an additional 1,558 shares during the period. Perkins Coie Trust Co purchased a new position in shares of First Solar in the first quarter worth approximately $108,000. Princeton Global Asset Management LLC acquired a new stake in shares of First Solar during the first quarter valued at approximately $51,000. Independence Bank of Kentucky lifted its position in shares of First Solar by 367.5% in the 1st quarter. Independence Bank of Kentucky now owns 12,715 shares of the solar cell manufacturer’s stock valued at $1,608,000 after acquiring an additional 9,995 shares in the last quarter. Finally, Intellectus Partners LLC boosted its stake in First Solar by 6.6% in the 1st quarter. Intellectus Partners LLC now owns 3,251 shares of the solar cell manufacturer’s stock worth $411,000 after purchasing an additional 200 shares during the period. 92.08% of the stock is 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.