First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

First Solar, Inc. (NASDAQ:FSLR) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $279.04.

FSLR has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. StockNews.com lowered First Solar from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Financial Group cut their target price on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Truist Financial started coverage on First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC bought a new position in shares of First Solar during the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank bought a new stake in First Solar during the third quarter worth $29,000. Atlas Capital Advisors LLC boosted its position 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 worth $31,000 after purchasing an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in First Solar in the 2nd quarter valued at $36,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Down 0.1 %

Shares of NASDAQ FSLR opened at $186.21 on Thursday. The firm has a 50 day moving average price of $194.84 and a two-hundred day moving average price of $218.56. The stock has a market cap of $19.94 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. First Solar has a 52-week low of $135.88 and a 52-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.

First Solar (NASDAQ:FSLR) last announced 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 company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 earnings per share. As a group, equities analysts forecast that First Solar will post 13.15 EPS for the current year.

About First Solar

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.