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

First Solar (NASDAQ:FSLR) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other equities analysts also recently commented on FSLR. Truist Financial assumed coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Royal Bank of Canada reduced their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Bank of America reduced their price target on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Susquehanna reduced their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Stock Down 6.0 %

Shares of NASDAQ:FSLR traded down $11.57 during trading on Tuesday, hitting $182.26. The company’s stock had a trading volume of 2,984,656 shares, compared to its average volume of 2,514,505. The business has a 50 day moving average price of $218.31 and a two-hundred day moving average price of $225.65. The company has a market capitalization of $19.51 billion, a PE ratio of 15.70, a P/E/G ratio of 0.34 and a beta of 1.48. 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 $129.50 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 EPS. As a group, research analysts expect that First Solar will post 13.16 EPS for the current fiscal year.

Institutional Trading of First Solar

Large investors have recently modified their holdings of the business. AlphaMark Advisors LLC acquired a new stake in shares of First Solar in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar during the third quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in First Solar during the third quarter worth approximately $29,000. Atlas Capital Advisors LLC boosted its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.