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

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reiterated by research analysts at Roth Mkm in a report released on Wednesday,Benzinga reports. They currently have a $280.00 target price on the solar cell manufacturer’s stock. Roth Mkm’s price objective points to a potential upside of 70.41% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Truist Financial reissued a “buy” rating and issued a $285.00 price target (down from $300.00) on shares of First Solar in a report on Wednesday. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Citigroup lowered 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. Finally, Robert W. Baird cut their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and an average target price of $271.96.

First Solar Stock Performance

FSLR stock traded up $16.85 during trading on Wednesday, reaching $164.31. The stock had a trading volume of 4,463,554 shares, compared to its average volume of 2,397,359. The firm has a market cap of $17.59 billion, a PE ratio of 14.11, a PEG ratio of 0.19 and a beta of 1.47. 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 stock’s 50 day moving average is $174.55 and its two-hundred day moving average is $199.38. First Solar has a 52 week low of $144.28 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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 return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of First Solar in the fourth quarter worth about $317,399,000. Wellington Management Group LLP lifted its holdings in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock valued at $127,379,000 after acquiring an additional 718,631 shares during the period. Mirova US LLC boosted its position in shares of First Solar by 961.0% during the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after buying an additional 585,394 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares in the last quarter. Hedge funds and other 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.