Barclays Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price lowered by Barclays from $275.00 to $273.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the solar cell manufacturer’s stock.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company lowered their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Tuesday, October 29th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Evercore ISI dropped their price objective on shares of 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, Morgan Stanley lowered their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $276.29.

First Solar Stock Performance

Shares of First Solar stock opened at $166.01 on Monday. The company has a market capitalization of $17.77 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.20 and a beta of 1.49. First Solar has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $187.57 and its two-hundred day moving average is $206.63.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $2.50 earnings per share. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, analysts expect that First Solar will post 13.07 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Van ECK Associates Corp boosted its holdings in shares of First Solar by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 45,139 shares of the solar cell manufacturer’s stock valued at $7,955,000 after acquiring an additional 2,102 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after purchasing an additional 34,074 shares during the last quarter. Kentucky Trust Co acquired a new stake in First Solar during the 4th quarter worth about $98,000. Gladstone Institutional Advisory LLC lifted its holdings in shares of First Solar by 19.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,073 shares of the solar cell manufacturer’s stock valued at $365,000 after buying an additional 334 shares during the period. Finally, Sage Private Wealth Group LLC purchased a new stake in shares of First Solar in the fourth quarter worth about $267,000. 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.