First Solar (NASDAQ:FSLR) Given New $210.00 Price Target at Piper Sandler

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

Several other research analysts have also weighed in on the company. Mizuho lowered their price objective on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group decreased their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Roth Mkm decreased their price target on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Evercore ISI decreased their price target 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. Finally, Guggenheim decreased their price target on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Trading Up 2.3 %

Shares of First Solar stock opened at $186.05 on Friday. The firm has a market capitalization of $19.92 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.32 and a beta of 1.48. First Solar has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a 50 day moving average of $212.65 and a 200 day moving average of $225.35.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.50 earnings per share. As a group, research analysts predict that First Solar will post 13.15 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

Several large investors have recently bought and sold shares of FSLR. Electron Capital Partners LLC grew its holdings in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the last quarter. State Street Corp grew its holdings in shares of First Solar by 2.2% during the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of First Solar by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after purchasing an additional 24,143 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of First Solar by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after purchasing an additional 15,890 shares during the last quarter. Hedge funds and other 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.