First Solar (NASDAQ:FSLR) Upgraded to “Outperform” at Mizuho

First Solar (NASDAQ:FSLR) was upgraded by stock analysts at Mizuho from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday,Finviz reports. The firm presently has a $259.00 target price on the solar cell manufacturer’s stock, up from their prior target price of $218.00. Mizuho’s target price suggests a potential upside of 59.00% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Bank of America lowered their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Barclays lowered their price objective on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Piper Sandler lifted their price objective on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Evercore ISI reduced their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $276.38.

First Solar Price Performance

NASDAQ:FSLR opened at $162.89 on Tuesday. First Solar has a 52 week low of $141.70 and a 52 week high of $306.77. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 0.19 and a beta of 1.47. The firm’s 50-day simple moving average is $183.24 and its 200 day simple moving average is $203.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLR. Covestor Ltd raised its stake 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 during the last quarter. Field & Main Bank lifted its position 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 valued at $345,000 after acquiring an additional 55 shares in the last quarter. Clear Harbor Asset Management LLC lifted its position 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 valued at $1,623,000 after acquiring an additional 55 shares in the last quarter. Demars Financial Group LLC lifted its position in First Solar by 1.4% during the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after buying an additional 56 shares in the last quarter. Finally, Doliver Advisors LP lifted its position in First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after buying an additional 56 shares in the last quarter. Institutional investors 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.