First Solar (NASDAQ:FSLR) Price Target Cut to $230.00 by Analysts at Piper Sandler

First Solar (NASDAQ:FSLR - Get Free Report) had its target price decreased by investment analysts at Piper Sandler from $250.00 to $230.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the solar cell manufacturer's stock. Piper Sandler's price target would suggest a potential upside of 68.89% from the stock's previous close.

Several other research analysts have also recently issued reports on the stock. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a report on Wednesday. Morgan Stanley dropped their target price on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and increased their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $262.08.

First Solar Stock Performance

NASDAQ FSLR traded down $5.00 during trading hours on Wednesday, hitting $136.18. 5,775,753 shares of the stock were exchanged, compared to its average volume of 2,608,842. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar has a 12-month low of $133.90 and a 12-month high of $306.77. The stock has a 50-day moving average of $172.38 and a 200 day moving average of $197.69. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities research analysts forecast that First Solar will post 13.05 earnings per share for the current year.

Institutional Trading of First Solar

Hedge funds have recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer's stock valued at $229,000 after purchasing an additional 55 shares during the last quarter. Field & Main Bank boosted its holdings in shares of First Solar by 4.1% in the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer's stock valued at $345,000 after purchasing an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock valued at $1,623,000 after purchasing an additional 55 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of First Solar by 1.4% in the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer's stock valued at $1,030,000 after purchasing an additional 56 shares during the last quarter. Finally, Doliver Advisors LP boosted its holdings in shares of First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock valued at $831,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds 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.