Piper Sandler Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR - Free Report) had its target price cut by Piper Sandler from $245.00 to $210.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer's stock.

FSLR has been the topic of a number of other research reports. Morgan Stanley decreased their target price on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a research note on Wednesday, October 9th. UBS Group upped their target price on shares of First Solar from $350.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Susquehanna decreased their price target on First Solar from $280.00 to $252.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group dropped their price objective on First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, First Solar currently has a consensus rating of "Moderate Buy" and an average price target of $279.04.

First Solar Stock Performance

Shares of FSLR traded up $4.10 during trading hours on Friday, hitting $186.05. The stock had a trading volume of 1,722,447 shares, compared to its average volume of 2,525,553. The firm has a market capitalization of $19.92 billion, a PE ratio of 16.02, a PEG ratio of 0.33 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a 12 month low of $135.88 and a 12 month high of $306.77. The stock has a fifty day moving average price of $212.65 and a 200 day moving average price of $225.35.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly 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 business had revenue of $887.70 million for the quarter, compared to analysts' expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. Analysts anticipate that First Solar will post 13.16 EPS for the current year.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in First Solar by 10.6% during the 1st quarter. Bessemer Group Inc. now owns 7,751 shares of the solar cell manufacturer's stock valued at $1,309,000 after acquiring an additional 740 shares during the period. Mount Yale Investment Advisors LLC increased its stake in First Solar by 35.8% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,090 shares of the solar cell manufacturer's stock worth $1,366,000 after buying an additional 2,132 shares during the period. Gendell Jeffrey L purchased a new stake in First Solar in the 1st quarter valued at about $4,220,000. Caxton Associates LP purchased a new position in shares of First Solar during the first quarter worth approximately $240,000. Finally, Bayesian Capital Management LP increased its position in shares of First Solar by 305.1% during the first quarter. Bayesian Capital Management LP now owns 15,800 shares of the solar cell manufacturer's stock worth $2,667,000 after acquiring an additional 11,900 shares during the period. 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.