First Solar (NASDAQ:FSLR) Price Target Lowered to $273.00 at Barclays

First Solar (NASDAQ:FSLR) had its target price lowered by Barclays from $275.00 to $273.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s price target would indicate a potential upside of 67.34% from the stock’s previous close.

A number of other analysts have also weighed in on FSLR. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Tuesday, October 29th. Piper Sandler upped their price target on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Wells Fargo & Company cut their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada cut their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Guggenheim reissued a “buy” rating and set a $335.00 target price on shares of First Solar in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $277.67.

First Solar Stock Performance

NASDAQ FSLR traded down $5.11 on Monday, hitting $163.14. The stock had a trading volume of 847,491 shares, compared to its average volume of 2,163,240. First Solar has a one year low of $135.88 and a one year 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 stock has a market cap of $17.47 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.20 and a beta of 1.49. The company’s 50-day moving average is $189.11 and its two-hundred day moving average is $207.91.

First Solar (NASDAQ:FSLR) last posted 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 the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS. On average, analysts expect that First Solar will post 13.07 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Sector Pension Investment Board increased its position in shares of First Solar by 55.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,771 shares of the solar cell manufacturer’s stock worth $1,076,000 after purchasing an additional 1,697 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in First Solar in the 2nd quarter valued at about $286,000. MBB Public Markets I LLC acquired a new stake in First Solar in the 2nd quarter valued at about $1,646,000. Mackenzie Financial Corp increased its position in First Solar by 52.3% in the 2nd quarter. Mackenzie Financial Corp now owns 23,835 shares of the solar cell manufacturer’s stock valued at $5,374,000 after acquiring an additional 8,186 shares in the last quarter. Finally, Creative Planning increased its position in First Solar by 10.9% in the 2nd quarter. Creative Planning now owns 15,882 shares of the solar cell manufacturer’s stock valued at $3,581,000 after acquiring an additional 1,557 shares in the last quarter. 92.08% of the stock is owned by 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.