First Solar (NASDAQ:FSLR) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of First Solar (NASDAQ:FSLR) to a strong-buy rating in a research report sent to investors on Wednesday, Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Truist Financial started 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 for the company. Jefferies Financial Group dropped their price target on shares of First Solar from $271.00 to $266.00 and set a buy rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of First Solar from $215.00 to $280.00 and gave the company a buy rating in a research report on Friday, June 28th. Clarkson Capital assumed coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a buy rating and a $270.00 price target for the company. Finally, UBS Group lifted their price target on shares of First Solar from $350.00 to $360.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $285.44.

First Solar Trading Up 3.1 %

Shares of NASDAQ:FSLR opened at $211.49 on Wednesday. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a market capitalization of $22.64 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The company has a 50-day simple moving average of $227.56 and a 200 day simple moving average of $221.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the business posted $1.85 earnings per share. Sell-side analysts forecast that First Solar will post 13.53 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 over the last 90 days. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar during the first quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the fourth quarter valued at about $27,000. Atlas Capital Advisors LLC raised its holdings in shares of First Solar by 411.1% during the second 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. Riverview Trust Co acquired a new position in shares of First Solar during the first quarter valued at about $32,000. Finally, Summit Securities Group LLC acquired a new position in shares of First Solar during the second quarter valued at about $36,000. 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.