First Solar, Inc. (NASDAQ:FSLR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

First Solar, Inc. (NASDAQ:FSLR) has been assigned a consensus rating of “Moderate Buy” from the twenty-seven analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $279.04.

Several research firms have recently commented on FSLR. Roth Mkm lowered their price target on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Evercore ISI lowered their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Morgan Stanley cut their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price target on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

First Solar Stock Up 3.5 %

Shares of FSLR opened at $199.27 on Friday. The company’s 50-day moving average price is $208.12 and its 200 day moving average price is $225.41. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $21.33 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released 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 company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $2.50 earnings per share. On average, sell-side analysts forecast that First Solar will post 13.15 earnings per share for the current year.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC acquired a new position in First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar in the 3rd quarter valued at about $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar in the 3rd quarter valued at about $29,000. Atlas Capital Advisors LLC boosted its position in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Finally, Summit Securities Group LLC purchased a new position in First Solar during the 2nd quarter worth approximately $36,000. 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.