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

Key Points

• Barclays lowered its price target on First Solar from $228 to $213 but kept an overweight rating, implying roughly a 12.15% upside from current levels.
• Several other analysts have cut targets (e.g., UBS to $300, Jefferies to $187, Susquehanna to $250), yet the consensus remains a Moderate Buy with an average price target of $245.10.
• Shares traded at $189.92 (down ~0.3%) following an EPS miss ($4.84 vs. $5.22 expected); insiders sold about 76,562 shares (~$15.0M) in the last 90 days while institutional investors own roughly 92.08% of the stock.

First Solar (NASDAQ:FSLR - Get Free Report) had its target price dropped by equities research analysts at Barclays from $228.00 to $213.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has an "overweight" rating on the solar cell manufacturer's stock. Barclays's price objective indicates a potential upside of 12.15% from the company's current price.

FSLR has been the topic of several other research reports. Weiss Ratings restated a "hold (c+)" rating on shares of First Solar in a report on Friday, March 27th. UBS Group cut their price target on shares of First Solar from $330.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Jefferies Financial Group decreased their price objective on shares of First Solar from $205.00 to $187.00 and set a "hold" rating on the stock in a research report on Tuesday, April 7th. Wolfe Research lowered shares of First Solar from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Finally, Susquehanna cut their target price on First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a research note on Thursday, April 9th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $245.10.

First Solar Trading Down 0.3%

Shares of NASDAQ:FSLR traded down $0.52 on Monday, reaching $189.92. 203,673 shares of the company traded hands, compared to its average volume of 2,320,597. The stock has a market capitalization of $20.41 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.41 and a beta of 1.61. The business's 50-day simple moving average is $204.51 and its 200 day simple moving average is $234.09. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. First Solar has a 52 week low of $119.09 and a 52 week high of $285.99.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.59 billion. The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.65 earnings per share. As a group, equities analysts anticipate that First Solar will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kuntal Kumar Verma sold 3,426 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $671,256.18. Following the transaction, the insider owned 8,334 shares in the company, valued at approximately $1,632,880.62. This trade represents a 29.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 14,106 shares of First Solar stock in a transaction that occurred on Tuesday, March 17th. The shares were 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 in the company, valued at approximately $5,999,100. This trade represents a 31.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 76,562 shares of company stock worth $15,042,232. 0.39% of the stock is owned by insiders.

Institutional Trading of First Solar

Large investors have recently bought and sold shares of the company. Hanson & Doremus Investment Management boosted its holdings in shares of First Solar by 6.1% in the first quarter. Hanson & Doremus Investment Management now owns 10,482 shares of the solar cell manufacturer's stock worth $2,068,000 after buying an additional 607 shares during the last quarter. Brookstone Capital Management raised its stake in First Solar by 19.2% during the 1st quarter. Brookstone Capital Management now owns 1,977 shares of the solar cell manufacturer's stock worth $390,000 after acquiring an additional 318 shares during the period. SG Americas Securities LLC boosted its position in shares of First Solar by 100.5% in the first quarter. SG Americas Securities LLC now owns 197,258 shares of the solar cell manufacturer's stock worth $38,911,000 after purchasing an additional 98,877 shares during the period. Evexia Wealth LLC increased its stake in shares of First Solar by 4.3% in the first quarter. Evexia Wealth LLC now owns 2,941 shares of the solar cell manufacturer's stock worth $589,000 after purchasing an additional 120 shares in the last quarter. Finally, E. Ohman J or Asset Management AB boosted its holdings in First Solar by 1.6% in the 1st quarter. E. Ohman J or Asset Management AB now owns 137,176 shares of the solar cell manufacturer's stock worth $27,059,000 after buying an additional 2,154 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Company Profile

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.

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