Piper Sandler Lowers First Solar (NASDAQ:FSLR) Price Target to $210.00

First Solar (NASDAQ:FSLR) had its target price cut by Piper Sandler from $245.00 to $210.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

A number of other analysts have also issued reports on FSLR. BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 target price (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Morgan Stanley reduced their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Tuesday, October 29th. Finally, Clarkson Capital began coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Trading Up 2.3 %

NASDAQ:FSLR opened at $186.05 on Friday. The company’s 50 day moving average is $212.65 and its 200-day moving average is $225.81. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 12 month low of $135.88 and a 12 month high of $306.77. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 0.32 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last announced 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business earned $2.50 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that First Solar will post 13.15 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new stake in First Solar during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the third quarter worth $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar in the third quarter valued at $29,000. Atlas Capital Advisors LLC raised its holdings in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in First Solar during the 2nd quarter worth about $36,000. Institutional investors own 92.08% of the company’s stock.

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.