Susquehanna Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target lowered by Susquehanna from $223.00 to $217.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a positive rating on the solar cell manufacturer’s stock.

Several other equities research analysts have also commented on FSLR. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. cut their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research note on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial restated a “buy” rating and issued a $245.00 price target (down from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.75.

First Solar Price Performance

First Solar stock opened at $131.26 on Monday. The stock’s 50 day moving average is $139.20 and its 200 day moving average is $174.76. First Solar has a one year low of $116.56 and a one year high of $306.77. The firm has a market cap of $14.05 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts expect that First Solar will post 13.05 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alexander R. Bradley sold 599 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 over the last ninety days. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently made changes to their positions in FSLR. Clear Harbor Asset Management LLC lifted its holdings in First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares in the last quarter. Doliver Advisors LP increased its position in shares of First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after buying an additional 56 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% in the fourth 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 in the last quarter. Independent Advisor Alliance boosted its position in shares of First Solar by 3.1% in the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after acquiring an additional 63 shares during the period. Finally, Huntington National Bank grew its stake in First Solar by 15.3% during the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock valued at $90,000 after acquiring an additional 68 shares in the last quarter. 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.