First Solar’s (FSLR) Buy Rating Reiterated at Roth Mkm

Roth Mkm reissued their buy rating on shares of First Solar (NASDAQ:FSLR) in a research note released on Wednesday,Benzinga reports. Roth Mkm currently has a $280.00 price objective on the solar cell manufacturer’s stock.

Several other research analysts also recently commented on FSLR. Evercore ISI dropped their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Citigroup dropped their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Bank of America decreased their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Piper Sandler raised their price target on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Down 3.5 %

First Solar stock opened at $136.18 on Wednesday. The company has a market capitalization of $14.58 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.19 and a beta of 1.47. First Solar has a 1-year low of $133.90 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $172.38 and its 200-day simple moving average is $198.11.

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

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after buying an additional 55 shares in the last quarter. Field & Main Bank raised its stake in shares of First Solar by 4.1% in the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after acquiring an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares during the last quarter. Demars Financial Group LLC raised its stake in shares of First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after acquiring an additional 56 shares during the last quarter. Finally, Doliver Advisors LP raised its stake in shares of First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.