First Solar - FSLR Stock Forecast, Price & News

First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FSLR. Piper Sandler increased their target price on shares of First Solar from $90.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday, August 3rd. Robert W. Baird increased their target price on shares of First Solar from $98.00 to $119.00 in a report on Friday, July 29th. Oppenheimer upgraded shares of First Solar from a "market perform" rating to an "outperform" rating and set a $116.00 target price for the company in a report on Friday, July 29th. Credit Suisse Group lowered their target price on shares of First Solar to $77.00 in a report on Monday, July 25th. Finally, Barclays began coverage on shares of First Solar in a report on Friday, August 5th. They issued an "underweight" rating and a $89.00 target price for the company. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, First Solar has a consensus rating of "Hold" and a consensus price target of $99.39.

First Solar Stock Performance

Shares of FSLR traded up $3.39 during trading hours on Friday, hitting $117.97. The company's stock had a trading volume of 2,476,136 shares, compared to its average volume of 3,312,395. The business has a 50 day simple moving average of $77.43 and a two-hundred day simple moving average of $74.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.21 and a quick ratio of 3.20. First Solar has a 52-week low of $59.60 and a 52-week high of $123.13. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 67.03, a PEG ratio of 94.91 and a beta of 1.49.

First Solar (NASDAQ:FSLR - Get Rating) last released its quarterly earnings data on Thursday, July 28th. The solar cell manufacturer reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.09). First Solar had a net margin of 7.63% and a return on equity of 3.21%. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $606.45 million. During the same quarter last year, the business posted $0.77 earnings per share. First Solar's revenue was down 1.3% compared to the same quarter last year. On average, equities analysts expect that First Solar will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michael Koralewski sold 1,822 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $67.58, for a total value of $123,130.76. Following the completion of the transaction, the insider now directly owns 1,007 shares in the company, valued at $68,053.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael Koralewski sold 1,822 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $67.58, for a total value of $123,130.76. Following the completion of the transaction, the insider now directly owns 1,007 shares in the company, valued at $68,053.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler bought 489 shares of the company's stock in a transaction on Friday, August 5th. The shares were bought at an average price of $102.10 per share, with a total value of $49,926.90. Following the completion of the transaction, the insider now owns 4,117 shares of the company's stock, valued at $420,345.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 48,405 shares of company stock worth $4,271,772. 0.54% of the stock is owned by company insiders.