First Solar (NASDAQ:FSLR) Upgraded by StockNews.com to Hold Rating

First Solar (NASDAQ:FSLR) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

FSLR has been the subject of a number of other research reports. Evercore ISI cut their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded First Solar to a “hold” rating in a research report on Tuesday, November 5th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Tuesday, October 29th. Truist Financial assumed coverage on First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Finally, Barclays reduced their price objective on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Four 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Stock Performance

NASDAQ FSLR opened at $176.24 on Thursday. The business has a 50 day moving average price of $192.90 and a 200 day moving average price of $214.76. The company has a market capitalization of $18.87 billion, a P/E ratio of 15.18, a PEG ratio of 0.35 and a beta of 1.46. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted its earnings results 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 analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.50 EPS. Sell-side analysts expect that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Several institutional investors and hedge funds have recently modified their holdings of FSLR. AlphaMark Advisors LLC purchased a new position in First Solar in the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter worth $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the third quarter valued at $29,000. Itau Unibanco Holding S.A. acquired a new stake in First Solar during the 2nd quarter valued at $38,000. Finally, Larson Financial Group LLC increased its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the period. Hedge funds and other institutional investors 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.