First Solar (NASDAQ:FSLR) Raised to "Hold" at StockNews.com

First Solar (NASDAQ:FSLR - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Thursday.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group decreased their target price on First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a report on Thursday, October 10th. Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a report on Wednesday, October 9th. Barclays cut their target price on shares of First Solar from $290.00 to $275.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Truist Financial started coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a "buy" rating and a $300.00 price target for the company. Finally, Janney Montgomery Scott raised First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price objective on the stock in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average price target of $279.04.

First Solar Trading Up 5.8 %

Shares of NASDAQ FSLR traded up $10.23 during mid-day trading on Thursday, hitting $186.47. The stock had a trading volume of 1,794,300 shares, compared to its average volume of 2,474,865. The business has a 50 day moving average price of $192.90 and a two-hundred day moving average price of $214.76. 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 quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $19.96 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data 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 net margin of 32.41% and a return on equity of 17.56%. The business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.50 earnings per share. On average, equities analysts anticipate that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Large investors have recently bought and sold shares of the business. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in First Solar in the third quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in First Solar in the 3rd quarter worth approximately $29,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar during the 2nd quarter valued at $38,000. Finally, Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after buying an additional 107 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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.