Guggenheim Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target decreased by equities researchers at Guggenheim from $335.00 to $304.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Guggenheim’s price objective would indicate a potential upside of 100.32% from the company’s previous close.

FSLR has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group cut their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group lowered their price target on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $263.63.

First Solar Stock Performance

FSLR traded down $5.08 during trading on Thursday, hitting $151.76. The stock had a trading volume of 790,438 shares, compared to its average volume of 2,425,860. 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 has a 12 month low of $145.77 and a 12 month high of $306.77. The company has a 50 day simple moving average of $174.00 and a 200-day simple moving average of $199.08. The firm has a market cap of $16.25 billion, a PE ratio of 13.06, a P/E/G ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Analysts expect that First Solar will post 13.05 EPS for the current year.

Institutional Trading of First Solar

Hedge funds have recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC bought a new stake in shares of First Solar in the third quarter worth about $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar in the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC increased its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the period. Finally, Crews Bank & Trust bought a new position in First Solar in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.