First Solar (NASDAQ:FSLR) Price Target Cut to $205.00 by Analysts at Piper Sandler

First Solar (NASDAQ:FSLR - Get Free Report) had its price objective dropped by Piper Sandler from $230.00 to $205.00 in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the solar cell manufacturer's stock. Piper Sandler's price objective suggests a potential upside of 44.51% from the company's previous close.

Several other research firms have also weighed in on FSLR. Citigroup dropped their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Bank of America decreased their price target on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada reduced their price objective on First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus target price of $249.96.

First Solar Stock Performance

Shares of FSLR stock traded up $5.42 during trading hours on Monday, reaching $141.86. 2,698,287 shares of the company's stock were exchanged, compared to its average volume of 2,777,383. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. 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 capitalization of $15.19 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.19 and a beta of 1.48. The business has a fifty day moving average price of $133.46 and a 200-day moving average price of $169.09.

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

Insiders Place Their Bets

In other news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % 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 ninety days. Company insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the business. JNBA Financial Advisors boosted its stake in First Solar by 7.8% in the 1st quarter. JNBA Financial Advisors now owns 3,523 shares of the solar cell manufacturer's stock worth $445,000 after purchasing an additional 256 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in shares of First Solar by 28.2% in the first quarter. Peregrine Capital Management LLC now owns 6,818 shares of the solar cell manufacturer's stock worth $862,000 after buying an additional 1,500 shares in the last quarter. Amalgamated Bank grew its holdings in shares of First Solar by 1.5% during the first quarter. Amalgamated Bank now owns 20,887 shares of the solar cell manufacturer's stock valued at $2,641,000 after buying an additional 311 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of First Solar by 90.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 3,314 shares of the solar cell manufacturer's stock valued at $419,000 after buying an additional 1,571 shares during the last quarter. Finally, KBC Group NV increased its position in shares of First Solar by 11.7% during the first quarter. KBC Group NV now owns 54,709 shares of the solar cell manufacturer's stock valued at $6,917,000 after acquiring an additional 5,743 shares in the last quarter. Hedge funds and other institutional investors 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.