First Solar (NASDAQ:FSLR) Price Target Cut to $200.00 by Analysts at TD Cowen

First Solar (NASDAQ:FSLR) had its target price dropped by research analysts at TD Cowen from $275.00 to $200.00 in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. TD Cowen’s target price suggests a potential upside of 45.73% from the stock’s current price.

A number of other brokerages also recently issued reports on FSLR. Bank of America cut their target price on First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Citigroup lowered their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird dropped their target price on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, UBS Group reduced their target price on First Solar from $285.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $247.96.

First Solar Stock Performance

Shares of First Solar stock opened at $137.24 on Wednesday. First Solar has a 52 week low of $116.56 and a 52 week high of $306.77. The firm has a market capitalization of $14.72 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $132.48 and its two-hundred day moving average is $167.74.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. During the same period in the prior year, the business earned $2.20 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts forecast that First Solar will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the sale, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 in the last 90 days. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently bought and sold shares of FSLR. Garde Capital Inc. bought a new stake in shares of First Solar in the first quarter valued at approximately $25,000. Smartleaf Asset Management LLC grew its holdings in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in First Solar in the fourth quarter valued at about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the 4th quarter valued at approximately $53,000. Finally, Banque Transatlantique SA bought a new stake in shares of First Solar during the 4th quarter worth approximately $53,000. 92.08% of the stock is owned by 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.