First Solar's (FSLR) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• First Solar's stock received a "hold (c)" rating from Weiss Ratings, reaffirming the cautious stance towards the company's performance.
• Various analysts have upgraded their price targets for First Solar, with Royal Bank Of Canada and TD Cowen setting targets at $200 and $240 respectively, contributing to a consensus average price target of $231.04.
• The company reported a quarterly earnings per share (EPS) of $3.18, exceeding estimates, and has set future EPS guidance for FY 2025 between 13.500-16.500.

First Solar (NASDAQ:FSLR - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently issued reports on the company. Royal Bank Of Canada upped their price target on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. TD Cowen boosted their price objective on First Solar from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Susquehanna boosted their price objective on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, BMO Capital Markets upped their price target on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $231.04.

First Solar Trading Up 1.5%

Shares of FSLR stock opened at $231.37 on Wednesday. The company has a market cap of $24.81 billion, a P/E ratio of 19.79, a PEG ratio of 0.45 and a beta of 1.38. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $235.87. The stock has a 50 day simple moving average of $204.07 and a two-hundred day simple moving average of $169.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts forecast that First Solar will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the transaction, the chief executive officer owned 87,978 shares in the company, valued at $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,715 shares of company stock worth $5,733,305 over the last 90 days. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On First Solar

Institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC grew its position in First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC bought a new position in First Solar during the 2nd quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its position in First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Hantz Financial Services Inc. grew its position in First Solar by 69.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer's stock worth $30,000 after acquiring an additional 75 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in First Solar during the 1st quarter worth approximately $25,000. 92.08% of the stock is currently owned by 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.

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