First Solar (NASDAQ:FSLR) Price Target Raised to $250.00

First Solar (NASDAQ:FSLR) had its target price boosted by stock analysts at Piper Sandler from $210.00 to $250.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. Piper Sandler’s price objective indicates a potential upside of 20.48% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Tuesday, October 29th. The Goldman Sachs Group reduced their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Roth Mkm dropped their price target on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Jefferies Financial Group dropped their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $280.71.

First Solar Stock Performance

FSLR stock opened at $207.51 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business has a 50-day moving average price of $207.29 and a 200 day moving average price of $226.01. The company has a market capitalization of $22.22 billion, a P/E ratio of 17.87, a PEG ratio of 0.36 and a beta of 1.46. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 earnings per share. As a group, equities research analysts forecast that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FSLR. Electron Capital Partners LLC raised its stake in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after purchasing an additional 7,660,409 shares during the last quarter. Wellington Management Group LLP raised its stake in First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after purchasing an additional 516,783 shares during the last quarter. Merewether Investment Management LP raised its stake in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after purchasing an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in First Solar in the 3rd quarter valued at $67,652,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

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.