First Solar (NASDAQ:FSLR) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of First Solar (NASDAQ:FSLR) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other research analysts have also weighed in on the stock. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Tuesday, October 29th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Truist Financial assumed coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Finally, Guggenheim lowered their price target on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research 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 stock. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and an average price target of $279.04.

First Solar Trading Up 5.8 %

Shares of First Solar stock opened at $186.47 on Thursday. The firm has a 50-day simple moving average of $192.70 and a two-hundred day simple moving average of $214.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a market cap of $19.96 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued 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). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 EPS. As a group, equities analysts predict that First Solar will post 13.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. Electron Capital Partners LLC boosted its position in shares of First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. Wellington Management Group LLP grew its position in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after acquiring an additional 516,783 shares in the last quarter. Merewether Investment Management LP lifted its position in First Solar by 993.4% in the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after acquiring an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in First Solar in the third quarter valued at $67,652,000. Institutional investors and hedge funds 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.