First Solar (NASDAQ:FSLR) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of First Solar (NASDAQ:FSLR) from a hold rating to a sell rating in a research report released on Friday morning.

A number of other brokerages have also weighed in on FSLR. Guggenheim reduced their price target on First Solar from $253.00 to $202.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial reissued a “buy” rating and issued a $200.00 price target (down from $245.00) on shares of First Solar in a research note on Thursday. Jefferies Financial Group downgraded shares of First Solar from a “buy” rating to a “hold” rating and dropped their price objective for the company from $202.00 to $127.00 in a research note on Wednesday. Bank of America lowered their target price on shares of First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Piper Sandler cut their price target on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.87.

First Solar Stock Performance

NASDAQ FSLR opened at $130.54 on Friday. 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 stock has a market cap of $14.00 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The business has a fifty day moving average of $131.03 and a 200-day moving average of $166.38.

First Solar (NASDAQ:FSLR) last released its 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). The firm had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. 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 6.4% on a year-over-year basis. During the same quarter last year, the company posted $2.20 earnings per share. As a group, analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 1,272 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the sale, the chief executive officer now directly owns 109,000 shares of the company’s stock, valued at $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Markus Gloeckler sold 380 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last three months. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently bought and sold shares of the company. Garde Capital Inc. acquired a new stake in shares of First Solar during the 1st quarter valued at approximately $25,000. Larson Financial Group LLC increased its stake in First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after purchasing an additional 219 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of First Solar by 31.7% during the fourth 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 during the period. Crews Bank & Trust bought a new position in shares of First Solar in the 4th quarter worth about $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the 4th quarter valued at about $53,000. 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.