First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Analysts

First Solar, Inc. (NASDAQ:FSLR) has been given a consensus rating of “Moderate Buy” by the thirty-five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $246.1317.

FSLR has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Royal Bank Of Canada cut their price objective on First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Bank of America cut their price objective on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Mizuho dropped their price target on First Solar from $326.00 to $271.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, HSBC reissued a “hold” rating and set a $211.00 price target (down from $280.00) on shares of First Solar in a report on Wednesday, February 25th.

First Solar Stock Performance

FSLR opened at $200.61 on Wednesday. First Solar has a 12-month low of $119.09 and a 12-month high of $285.99. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.43 and a beta of 1.61. The business has a 50 day moving average of $206.79 and a 200-day moving average of $234.73. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business earned $3.65 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts expect that First Solar will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, CFO Alexander R. Bradley sold 14,106 shares of First Solar stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the transaction, the chief financial officer directly owned 30,000 shares of the company’s stock, valued at approximately $5,999,100. The trade was a 31.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Markus Gloeckler sold 3,640 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $196.95, for a total value of $716,898.00. Following the completion of the transaction, the chief technology officer directly owned 8,037 shares of the company’s stock, valued at $1,582,887.15. The trade was a 31.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 75,989 shares of company stock worth $14,921,902. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in the business. Stance Capital LLC boosted its stake in First Solar by 10,575.0% during the fourth quarter. Stance Capital LLC now owns 5,124 shares of the solar cell manufacturer’s stock valued at $1,339,000 after buying an additional 5,076 shares during the period. Forty three Eighteen Advisors LLC bought a new stake in First Solar during the fourth quarter worth about $711,000. Rockefeller Capital Management L.P. lifted its stake in First Solar by 79.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 41,723 shares of the solar cell manufacturer’s stock worth $10,899,000 after purchasing an additional 18,537 shares during the last quarter. Green Ridge Wealth Planning LLC bought a new stake in First Solar during the fourth quarter worth about $234,000. Finally, Mengis Capital Management Inc. lifted its stake in shares of First Solar by 26.1% in the 4th quarter. Mengis Capital Management Inc. now owns 7,243 shares of the solar cell manufacturer’s stock valued at $1,892,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.