First Solar, Inc. (NASDAQ:FSLR) Receives $279.04 Consensus PT from Analysts

First Solar, Inc. (NASDAQ:FSLR) has been assigned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, twenty-three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $279.04.

Several equities analysts have weighed in on FSLR shares. Bank of America lowered their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Truist Financial began coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Seaport Res Ptn upgraded shares of First Solar to a “hold” rating in a report on Tuesday, November 5th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $192.32 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $211.84 and its two-hundred day moving average price is $225.80. First Solar has a 52-week low of $135.88 and a 52-week high of $306.77. The stock has a market capitalization of $20.59 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.33 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. The business’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that First Solar will post 13.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaMark Advisors LLC bought a new position in shares of First Solar during the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC bought a new stake in First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank bought a new stake in First Solar in the third quarter valued at about $29,000. Atlas Capital Advisors LLC increased its stake in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the period. Finally, Larson Financial Group LLC increased its stake in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the period. 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.