First Solar (NASDAQ:FSLR) Price Target Lowered to $238.00 at Morgan Stanley

First Solar (NASDAQ:FSLR) had its price objective cut by Morgan Stanley from $297.00 to $238.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

FSLR has been the topic of several other reports. UBS Group lowered their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their price objective 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. JPMorgan Chase & Co. reduced their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays dropped their target price on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Evercore ISI decreased their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.63.

First Solar Stock Down 10.0 %

FSLR stock opened at $141.18 on Thursday. 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 simple moving average is $173.30 and its 200 day simple moving average is $198.68. The stock has a market cap of $15.11 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar has a fifty-two week low of $140.84 and a fifty-two week high of $306.77.

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). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, sell-side analysts predict that First Solar will post 13.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC purchased a new position in First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar during the 3rd quarter worth $29,000. Larson Financial Group LLC grew its position 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 worth $39,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in First Solar during the fourth quarter valued at about $53,000. 92.08% of the stock is currently owned by institutional investors.

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.