First Solar (NASDAQ:FSLR) PT Lowered to $280.00

First Solar (NASDAQ:FSLR) had its target price reduced by analysts at Susquehanna from $285.00 to $280.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price target suggests a potential upside of 37.68% from the stock’s current price.

Other equities analysts have also issued reports about the company. Truist Financial initiated coverage on First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Jefferies Financial Group lowered their target price on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price objective on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $283.64.

First Solar Trading Down 1.1 %

Shares of FSLR opened at $203.37 on Wednesday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The company has a 50 day simple moving average of $227.19 and a two-hundred day simple moving average of $222.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The firm has a market cap of $21.77 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same period in the previous year, the firm posted $1.85 EPS. First Solar’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts expect that First Solar will post 13.53 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by company insiders.

Institutional Trading of First Solar

A number of hedge funds have recently bought and sold shares of FSLR. Joule Financial LLC raised its position in shares of First Solar by 13.2% in the 3rd quarter. Joule Financial LLC now owns 4,081 shares of the solar cell manufacturer’s stock worth $1,018,000 after acquiring an additional 477 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in First Solar by 9.9% in the third quarter. V Square Quantitative Management LLC now owns 2,513 shares of the solar cell manufacturer’s stock worth $627,000 after purchasing an additional 227 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of First Solar by 2.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,055 shares of the solar cell manufacturer’s stock valued at $2,758,000 after buying an additional 312 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in shares of First Solar by 224.0% in the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after buying an additional 3,607 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in shares of First Solar in the 3rd quarter worth approximately $25,000. 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.