First Solar’s (FSLR) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of First Solar (NASDAQ:FSLR) in a report published on Wednesday morning,Benzinga reports. They currently have a $280.00 price target on the solar cell manufacturer’s stock.

Several other equities analysts have also recently commented on the company. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Bank of America lowered their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Citigroup reduced their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday. Piper Sandler boosted their price target on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Robert W. Baird dropped their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $268.00.

First Solar Trading Up 6.4 %

Shares of First Solar stock opened at $156.84 on Wednesday. First Solar has a 1 year low of $144.28 and a 1 year high of $306.77. The company’s fifty day simple moving average is $174.00 and its 200-day simple moving average is $199.08. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts expect that First Solar will post 13.05 EPS for the current year.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank bought a new position in First Solar in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC lifted its holdings 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in First Solar by 31.7% in the 4th 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 during the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of First Solar in the 4th quarter valued at $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.