First Solar (NASDAQ:FSLR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a buy rating in a research report report published on Saturday.

Other equities research analysts have also recently issued reports about the company. Evercore ISI boosted their price objective on First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft lifted their target price on First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Glj Research increased their price target on First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a report on Tuesday, November 4th. Needham & Company LLC initiated coverage on First Solar in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price target for the company. Finally, Guggenheim lifted their price objective on shares of First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus target price of $270.17.

First Solar Price Performance

First Solar stock opened at $272.64 on Friday. First Solar has a 52-week low of $116.56 and a 52-week high of $281.55. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $228.07 and its 200 day moving average is $189.67. The company has a market cap of $29.26 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 0.46 and a beta of 1.51.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business’s quarterly revenue was up 79.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Sell-side analysts forecast that First Solar will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the sale, the director directly owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 55,715 shares of company stock valued at $14,269,695. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of First Solar in the second quarter valued at approximately $212,621,000. Nuveen LLC bought a new stake in First Solar during the 1st quarter valued at $114,730,000. Viking Global Investors LP lifted its holdings in shares of First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of First Solar by 16,857.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock worth $95,965,000 after buying an additional 754,557 shares during the period. Finally, Invesco Ltd. grew its position in shares of First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after buying an additional 592,444 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other 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.