Piper Sandler Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price lowered by investment analysts at Piper Sandler from $250.00 to $245.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the solar cell manufacturer’s stock. Piper Sandler’s price target would suggest a potential upside of 25.98% from the stock’s current price.

Several other research analysts have also commented on FSLR. The Goldman Sachs Group decreased their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company decreased their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday. Clarkson Capital started coverage on shares of First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a report on Wednesday. Finally, UBS Group upped their price objective on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $281.13.

First Solar Trading Down 1.5 %

NASDAQ:FSLR opened at $194.48 on Wednesday. The company has a fifty day moving average of $222.68 and a 200 day moving average of $223.93. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $20.82 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that First Solar will post 13.39 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, 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. In the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently added to or reduced their stakes in FSLR. AlphaMark Advisors LLC purchased a new position in shares of First Solar in the third quarter valued at $25,000. Atlas Capital Advisors LLC lifted its position in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares during the last quarter. Summit Securities Group LLC bought a new stake in First Solar in the second quarter worth $36,000. Itau Unibanco Holding S.A. bought a new stake in First Solar in the second quarter worth $38,000. Finally, Alta Advisers Ltd bought a new stake in shares of First Solar during the second quarter worth $45,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.