First Solar (NASDAQ:FSLR) Price Target Cut to $210.00 by Analysts at Piper Sandler

First Solar (NASDAQ:FSLR) had its price target decreased by Piper Sandler from $245.00 to $210.00 in a research note published on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the solar cell manufacturer’s stock.

FSLR has been the topic of a number of other research reports. Mizuho lowered their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company reduced their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a research report on Thursday, August 1st. Susquehanna reduced their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Stock Performance

NASDAQ FSLR opened at $186.05 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 52-week low of $135.88 and a 52-week high of $306.77. The business’s 50-day moving average price is $212.65 and its 200 day moving average price is $225.35. The firm has a market cap of $19.92 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.32 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that First Solar will post 13.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Western Financial Corp CA purchased a new stake in First Solar in the 3rd quarter worth approximately $1,209,000. Harbour Capital Advisors LLC grew its stake in First Solar by 224.0% in the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after acquiring an additional 3,607 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in First Solar by 6.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after acquiring an additional 14,597 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in First Solar in the 3rd quarter worth approximately $17,635,000. Finally, Warther Private Wealth LLC purchased a new stake in First Solar in the 3rd quarter worth approximately $2,655,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.