First Solar (NASDAQ:FSLR) Rating Increased to Hold at Seaport Res Ptn

First Solar (NASDAQ:FSLR) was upgraded by equities researchers at Seaport Res Ptn to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

A number of other research firms have also weighed in on FSLR. Truist Financial started coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. Clarkson Capital started coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Mizuho reduced 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 note on Thursday, October 31st. Guggenheim dropped their target price on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Piper Sandler lowered their price objective on shares of First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Price Performance

Shares of First Solar stock opened at $194.02 on Tuesday. First Solar has a twelve month low of $129.21 and a twelve month high of $306.77. 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 company has a 50-day simple moving average of $220.87 and a two-hundred day simple moving average of $225.16. The stock has a market capitalization of $20.77 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.36 and a beta of 1.48.

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 the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Analysts forecast that First Solar will post 13.12 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC acquired a new stake in shares of First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar in the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC lifted its holdings 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 worth $31,000 after purchasing an additional 111 shares during the last quarter. Summit Securities Group LLC bought a new stake in First Solar during the 2nd quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. bought a new stake in First Solar during the 2nd quarter valued at $38,000. 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.