First Solar (NASDAQ:FSLR) Given New $209.00 Price Target at Wells Fargo & Company

First Solar (NASDAQ:FSLR) had its price objective cut by Wells Fargo & Company from $240.00 to $209.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

Other research analysts have also issued research reports about the company. Mizuho reduced their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group cut their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Evercore ISI cut their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Susquehanna cut their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $277.75.

First Solar Trading Down 3.3 %

NASDAQ:FSLR opened at $191.13 on Wednesday. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77. The firm has a market capitalization of $20.46 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.35 and a beta of 1.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business has a 50 day simple moving average of $192.02 and a 200 day simple moving average of $212.30.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $2.50 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that First Solar will post 13.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new position in First Solar in the third quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar during the 3rd quarter worth about $29,000. Itau Unibanco Holding S.A. bought a new stake in shares of First Solar during the 2nd quarter worth about $38,000. Finally, Larson Financial Group LLC boosted its stake in shares of 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 acquiring an additional 107 shares in the last quarter. Hedge funds and other institutional investors 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.