Piper Sandler Forecasts Strong Price Appreciation for First Solar (NASDAQ:FSLR) Stock

First Solar (NASDAQ:FSLR) had its target price lifted by equities researchers at Piper Sandler from $210.00 to $250.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. Piper Sandler’s price objective would suggest a potential upside of 25.46% from the company’s previous close.

FSLR has been the subject of a number of other research reports. Wells Fargo & Company decreased their price target on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Seaport Res Ptn raised First Solar to a “hold” rating in a research report on Tuesday, November 5th. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Tuesday, October 29th. Truist Financial assumed coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Finally, Clarkson Capital assumed coverage on shares of First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Four investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $280.71.

First Solar Stock Performance

FSLR stock opened at $199.27 on Monday. First Solar has a one year low of $135.88 and a one year high of $306.77. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.35 and a beta of 1.48. 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 firm has a 50-day simple moving average of $208.12 and a two-hundred day simple moving average of $225.92.

First Solar (NASDAQ:FSLR) last announced its earnings results 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 firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. On average, equities analysts forecast that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Trading of First Solar

Several institutional investors have recently modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new stake in shares of First Solar in the third quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar during the 3rd quarter valued at approximately $29,000. Atlas Capital Advisors LLC lifted its holdings in 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 acquiring an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in First Solar in the second quarter worth approximately $36,000. 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.