First Solar’s (FSLR) “Buy” Rating Reaffirmed at Truist Financial

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a research note issued on Wednesday,Benzinga reports. They presently have a $285.00 price objective on the solar cell manufacturer’s stock, down from their prior price objective of $300.00. Truist Financial’s price target suggests a potential upside of 93.27% from the stock’s current price.

FSLR has been the topic of several other research reports. Susquehanna lowered their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price target (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.00.

First Solar Stock Down 3.6 %

Shares of FSLR opened at $147.46 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a 50-day simple moving average of $174.55 and a 200-day simple moving average of $199.38. First Solar has a 52 week low of $141.76 and a 52 week high of $306.77. The firm has a market capitalization of $15.79 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, equities research analysts expect that First Solar will post 13.05 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

Large investors have recently made changes to their positions in the company. Strengthening Families & Communities LLC acquired a new stake in First Solar in the third quarter worth about $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $29,000. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in First Solar by 31.7% in the fourth 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 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.

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.