First Solar (NASDAQ:FSLR) Raised to “Strong-Buy” at Seaport Res Ptn

First Solar (NASDAQ:FSLR) was upgraded by Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports. Seaport Res Ptn also issued estimates for First Solar’s Q4 2024 earnings at $4.87 EPS and FY2024 earnings at $13.23 EPS.

A number of other equities analysts also recently issued reports on FSLR. Jefferies Financial Group reduced their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Roth Mkm decreased their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Three equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Trading Up 2.2 %

Shares of NASDAQ FSLR opened at $190.89 on Wednesday. The business has a fifty day moving average price of $190.20 and a 200 day moving average price of $210.03. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. 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 stock has a market capitalization of $20.44 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.50 earnings per share. Equities research analysts expect that First Solar will post 13.09 EPS for the current fiscal year.

Institutional Trading of First Solar

A number of hedge funds have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new position in First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the 3rd quarter valued at about $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the 3rd quarter valued at about $29,000. Itau Unibanco Holding S.A. acquired a new position in First Solar in the 2nd quarter worth about $38,000. Finally, Larson Financial Group LLC raised its holdings in First Solar by 214.0% in the 3rd 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 period. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.