First Solar (NASDAQ:FSLR) Price Target Cut to $217.00 by Analysts at Susquehanna

First Solar (NASDAQ:FSLR - Free Report) had its target price lowered by Susquehanna from $223.00 to $217.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a positive rating on the solar cell manufacturer's stock.

Several other brokerages have also weighed in on FSLR. Piper Sandler cut their target price on First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Barclays lowered their target price on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Truist Financial reaffirmed a "buy" rating and issued a $245.00 target price (down previously from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. BMO Capital Markets reissued an "outperform" rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Four research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $251.63.

First Solar Stock Performance

Shares of First Solar stock traded up $3.60 during trading on Monday, hitting $127.98. 2,278,470 shares of the company's stock were exchanged, compared to its average volume of 2,742,666. First Solar has a 52-week low of $116.56 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.19 and a beta of 1.48. The business has a 50-day simple moving average of $136.14 and a 200-day simple moving average of $172.46.

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

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company's stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Institutional investors have recently bought and sold shares of the business. Whalen Wealth Management Inc. increased its stake in First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock valued at $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after acquiring an additional 34,074 shares in the last quarter. Paragon Capital Management Inc. acquired a new position in shares of First Solar in the fourth quarter worth $1,240,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of First Solar by 9.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock worth $104,910,000 after acquiring an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners grew its stake in First Solar by 41,342.9% in the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock valued at $511,000 after purchasing an additional 2,894 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.