First Solar (NASDAQ:FSLR) Stock Price Expected to Rise, Susquehanna Analyst Says

First Solar (NASDAQ:FSLR - Get Free Report) had its price target upped by stock analysts at Susquehanna from $186.00 to $203.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "positive" rating on the solar cell manufacturer's stock. Susquehanna's price target suggests a potential upside of 12.78% from the company's current price.

Other research analysts have also issued research reports about the company. Piper Sandler cut their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. UBS Group reissued a "positive" rating on shares of First Solar in a research note on Tuesday, July 8th. Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target for the company in a research note on Tuesday, May 13th. TD Cowen lowered their target price on First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group boosted their price target on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.73.

First Solar Price Performance

Shares of NASDAQ:FSLR traded up $1.66 during midday trading on Monday, reaching $179.99. The company's stock had a trading volume of 1,943,397 shares, compared to its average volume of 3,249,331. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a market capitalization of $19.30 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.34 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. The business's fifty day simple moving average is $163.98 and its 200-day simple moving average is $153.50.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results 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). The company had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. First Solar's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. As a group, equities research analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares in the company, valued at $1,798,689.49. This represents a 20.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the completion of the transaction, the insider directly owned 5,998 shares in the company, valued at approximately $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock worth $2,515,172 in the last quarter. Insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. boosted its stake in shares of First Solar by 396.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after purchasing an additional 9,405 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in First Solar by 7.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after purchasing an additional 3,226 shares in the last quarter. Vontobel Holding Ltd. increased its stake in First Solar by 14.2% during the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock valued at $23,936,000 after purchasing an additional 23,528 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of First Solar by 24.7% during the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after acquiring an additional 1,916 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in shares of First Solar by 34.2% in the fourth quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock worth $3,138,000 after buying an additional 4,542 shares during 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.