First Solar (NASDAQ:FSLR) Given Buy Rating at Guggenheim

First Solar (NASDAQ:FSLR - Get Free Report)'s stock had its "buy" rating restated by Guggenheim in a research report issued on Wednesday,Benzinga reports. They presently have a $335.00 target price on the solar cell manufacturer's stock. Guggenheim's price objective would indicate a potential upside of 94.88% from the stock's previous close.

A number of other analysts also recently commented on FSLR. Wells Fargo & Company lowered their target price 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. Bank of America dropped their price objective on shares of First Solar from $321.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Susquehanna lowered their target price on shares of First Solar from $280.00 to $252.00 and set a "positive" rating for the company in a research note on Wednesday, October 30th. Truist Financial started coverage on First Solar in a report on Thursday, September 26th. They issued a "buy" rating and a $300.00 price objective on the stock. Finally, Citigroup upgraded shares of First Solar from a "neutral" rating to a "buy" rating and increased their target price for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $277.75.

First Solar Trading Down 6.3 %

FSLR stock traded down $11.61 during mid-day trading on Wednesday, reaching $171.90. The company had a trading volume of 4,377,039 shares, compared to its average volume of 1,982,095. First Solar has a 12 month low of $135.88 and a 12 month 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 firm has a 50 day moving average of $189.98 and a 200 day moving average of $208.83. The company has a market capitalization of $18.40 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.22 and a beta of 1.49.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 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 firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $2.50 earnings per share. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts predict that First Solar will post 13.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC acquired a new stake in First Solar during the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new position in First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar during the 3rd quarter worth about $29,000. Larson Financial Group LLC boosted 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 valued at $39,000 after purchasing an additional 107 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of First Solar by 555.6% during the third quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer's stock valued at $59,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds 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.