First Solar (NASDAQ:FSLR) Price Target Lowered to $236.00 at Citigroup

First Solar (NASDAQ:FSLR) had its target price dropped by analysts at Citigroup from $254.00 to $236.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the solar cell manufacturer’s stock. Citigroup’s price objective suggests a potential upside of 60.04% from the company’s current price.

FSLR has been the topic of several other research reports. Evercore ISI cut their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Robert W. Baird cut their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, Guggenheim reiterated a “buy” rating and set a $335.00 price objective on shares of First Solar in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.63.

First Solar Stock Down 3.6 %

Shares of First Solar stock opened at $147.46 on Wednesday. First Solar has a 1 year low of $141.76 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. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.19 and a beta of 1.47. The firm’s 50-day moving average is $174.55 and its two-hundred day moving average is $199.38.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, research analysts expect that First Solar will post 13.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the 3rd quarter worth about $25,000. Kennebec Savings Bank purchased a new position in First Solar during the third quarter worth approximately $29,000. Larson Financial Group LLC grew its holdings in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of First Solar during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds 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.