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

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

Several other brokerages have also issued reports on FSLR. Susquehanna decreased their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada lowered their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Truist Financial assumed coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Finally, Mizuho dropped their price objective on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Stock Performance

Shares of FSLR stock opened at $190.45 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a 50-day moving average of $216.28 and a 200-day moving average of $225.57. First Solar has a one year low of $135.88 and a one year high of $306.77. The company has a market cap of $20.39 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.32 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. Equities research analysts forecast that First Solar will post 13.16 EPS for the current fiscal year.

Institutional Trading of First Solar

A number of large investors have recently modified their holdings of FSLR. AlphaMark Advisors LLC purchased a new position in First Solar in the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar in the third quarter worth $25,000. Kennebec Savings Bank purchased a new position in First Solar in the third quarter worth $29,000. Atlas Capital Advisors LLC raised its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the last quarter. 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.