Barclays Lowers First Solar (NASDAQ:FSLR) Price Target to $275.00

First Solar (NASDAQ:FSLR) had its target price decreased by Barclays from $290.00 to $275.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the solar cell manufacturer’s stock.

FSLR has been the topic of several other reports. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Mizuho decreased their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Seaport Res Ptn upgraded First Solar to a “hold” rating in a research note on Tuesday, November 5th. Bank of America reduced their price objective on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Piper Sandler cut their price target on First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $280.50.

First Solar Stock Performance

NASDAQ FSLR opened at $190.45 on Wednesday. First Solar has a 1 year low of $135.88 and a 1 year high of $306.77. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.32 and a beta of 1.48. 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 50 day simple moving average is $216.28 and its 200 day simple moving average is $225.57.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business 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%. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $2.50 EPS. As a group, research analysts expect that First Solar will post 13.16 earnings per share for the current fiscal year.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of First Solar by 15.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,558 shares of the solar cell manufacturer’s stock valued at $601,000 after acquiring an additional 481 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in First Solar during the first quarter worth $427,000. US Bancorp DE lifted its stake in shares of First Solar by 9.6% in the first quarter. US Bancorp DE now owns 28,374 shares of the solar cell manufacturer’s stock valued at $4,790,000 after buying an additional 2,492 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of First Solar during the first quarter valued at about $426,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of First Solar by 0.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 113,365 shares of the solar cell manufacturer’s stock worth $19,136,000 after acquiring an additional 777 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

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.