First Solar (NASDAQ:FSLR) Upgraded by Wolfe Research to Outperform Rating

First Solar (NASDAQ:FSLR - Get Free Report) was upgraded by equities researchers at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $221.00 target price on the solar cell manufacturer's stock. Wolfe Research's price target indicates a potential upside of 23.84% from the company's current price.

A number of other brokerages have also weighed in on FSLR. Oppenheimer lowered First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. Bank of America decreased their target price on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley set a $223.00 target price on First Solar and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. UBS Group decreased their target price on First Solar from $240.00 to $235.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Susquehanna decreased their target price on First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $224.48.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded down $7.72 during midday trading on Tuesday, reaching $178.46. 5,251,444 shares of the company traded hands, compared to its average volume of 3,060,882. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 12 month low of $116.56 and a 12 month high of $306.77. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The firm's fifty day moving average price is $134.18 and its two-hundred day moving average price is $163.52.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data 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 net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that First Solar will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43% 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 worth $4,767,158 in the last ninety days. Insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently bought and sold shares of FSLR. Garde Capital Inc. bought a new stake in First Solar during the first quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of First Solar in the first quarter worth about $25,000. Colonial Trust Advisors bought a new stake in shares of First Solar in the first quarter worth about $32,000. Larson Financial Group LLC grew its position in First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after acquiring an additional 63 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.