First Solar (NASDAQ:FSLR) Price Target Cut to $252.00

First Solar (NASDAQ:FSLR) had its target price reduced by investment analysts at Susquehanna from $280.00 to $252.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price target points to a potential upside of 33.69% from the company’s previous close.

Several other brokerages have also recently issued reports on FSLR. Barclays boosted their price objective on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Jefferies Financial Group dropped their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets cut their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Clarkson Capital started coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price on the stock. Finally, Piper Sandler increased their price target on shares of First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $284.71.

First Solar Stock Down 5.6 %

First Solar stock traded down $11.18 during mid-day trading on Wednesday, reaching $188.49. 1,455,885 shares of the company were exchanged, compared to its average volume of 2,396,645. The business has a fifty day moving average of $223.18 and a 200 day moving average of $224.11. First Solar has a 12-month low of $129.21 and a 12-month high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm has a market cap of $20.18 billion, a P/E ratio of 19.45, a PEG ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts anticipate that First Solar will post 13.39 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. increased its position in shares of First Solar by 29.2% in the 3rd quarter. QRG Capital Management Inc. now owns 2,307 shares of the solar cell manufacturer’s stock valued at $576,000 after buying an additional 522 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of First Solar by 2.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 41,934 shares of the solar cell manufacturer’s stock worth $10,460,000 after purchasing an additional 904 shares during the last quarter. National Pension Service lifted its holdings in First Solar by 6.7% during the 3rd quarter. National Pension Service now owns 185,883 shares of the solar cell manufacturer’s stock valued at $46,367,000 after purchasing an additional 11,683 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after purchasing an additional 516,783 shares during the last quarter. Finally, Nvwm LLC grew its holdings in First Solar by 122,080.0% in the 3rd quarter. Nvwm LLC now owns 6,109 shares of the solar cell manufacturer’s stock valued at $1,524,000 after buying an additional 6,104 shares in the last quarter. 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.