Morgan Stanley Cuts First Solar (NASDAQ:FSLR) Price Target to $238.00

First Solar (NASDAQ:FSLR) had its target price trimmed by Morgan Stanley from $297.00 to $238.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the solar cell manufacturer’s stock.

FSLR has been the topic of a number of other research reports. Bank of America lowered their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Truist Financial restated a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of First Solar in a report on Wednesday. UBS Group lowered their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a report on Wednesday. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $136.18 on Thursday. The firm’s 50-day moving average price is $172.38 and its 200-day moving average price is $197.88. First Solar has a 1-year low of $133.90 and a 1-year high of $306.77. The firm has a market capitalization of $14.58 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.19 and a beta of 1.47. 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 (NASDAQ:FSLR) last announced 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 net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Equities research analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

Large investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC bought a new position in First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank bought a new position in First Solar in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC boosted its holdings in First Solar by 214.0% in the 3rd 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 period. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% in 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 4th quarter worth approximately $53,000. Hedge funds and other institutional investors 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.