First Solar (NASDAQ:FSLR) Given “Buy” Rating at Roth Mkm

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating restated by Roth Mkm in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $280.00 price target on the solar cell manufacturer’s stock. Roth Mkm’s price target suggests a potential upside of 70.41% from the stock’s current price.

Several other analysts have also recently commented on the stock. Truist Financial reissued a “buy” rating and set a $285.00 price target (down from $300.00) on shares of First Solar in a research note on Wednesday. Citigroup reduced their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Bank of America decreased their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Susquehanna lowered their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $271.96.

First Solar Price Performance

NASDAQ FSLR traded up $16.85 during trading on Wednesday, reaching $164.31. 4,463,554 shares of the company traded hands, compared to its average volume of 2,397,359. First Solar has a 1-year low of $144.28 and a 1-year high of $306.77. The stock’s 50 day moving average price is $174.55 and its two-hundred day moving average price is $199.38. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market cap of $17.59 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.19 and a beta of 1.47.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLR. Strengthening Families & Communities LLC bought a new position in shares of First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar in the 3rd quarter worth about $29,000. Larson Financial Group LLC boosted its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in First Solar in the fourth quarter worth $53,000. Institutional investors own 92.08% of the company’s stock.

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.