First Solar (NASDAQ:FSLR) Price Target Lowered to $236.00 at Bank of America

First Solar (NASDAQ:FSLR) had its target price reduced by Bank of America from $246.00 to $236.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

A number of other research analysts also recently commented on the company. Piper Sandler upped their price objective on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Robert W. Baird lowered their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Mizuho cut their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada decreased their target price 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. Finally, Guggenheim reaffirmed a “buy” rating and set a $335.00 price target on shares of First Solar in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.29.

First Solar Stock Down 2.5 %

Shares of NASDAQ:FSLR opened at $160.24 on Tuesday. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The company’s fifty day moving average is $187.95 and its two-hundred day moving average is $206.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $17.16 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.20 and a beta of 1.49.

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). The business had revenue of $887.70 million during the quarter, compared to the consensus estimate 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 was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 EPS. Equities analysts anticipate that First Solar will post 13.07 EPS for the current year.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its holdings in shares of First Solar by 55.2% during the second quarter. Public Sector Pension Investment Board now owns 4,771 shares of the solar cell manufacturer’s stock valued at $1,076,000 after acquiring an additional 1,697 shares during the period. Mackenzie Financial Corp raised its stake in First Solar by 52.3% during the 2nd quarter. Mackenzie Financial Corp now owns 23,835 shares of the solar cell manufacturer’s stock valued at $5,374,000 after purchasing an additional 8,186 shares during the period. Creative Planning lifted its holdings in shares of First Solar by 10.9% in the second quarter. Creative Planning now owns 15,882 shares of the solar cell manufacturer’s stock valued at $3,581,000 after purchasing an additional 1,557 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Solar by 2.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 52,537 shares of the solar cell manufacturer’s stock worth $11,845,000 after buying an additional 1,267 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in shares of First Solar during the second quarter valued at $261,000. Institutional investors and hedge funds 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.