First Solar (NASDAQ:FSLR) Now Covered by Analysts at Clarkson Capital

Clarkson Capital began coverage on shares of First Solar (NASDAQ:FSLR) in a report published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $270.00 price target on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other research reports. Mizuho reiterated a neutral rating and set a $274.00 target price (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. Piper Sandler increased their target price on First Solar from $219.00 to $250.00 and gave the stock an overweight rating in a report on Monday, July 22nd. Royal Bank of Canada reiterated an outperform rating and set a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Roth Mkm reiterated a buy rating and set a $320.00 target price (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. Finally, Evercore ISI upgraded First Solar from an in-line rating to an outperform rating and set a $227.00 target price for the company in a report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of Moderate Buy and a consensus target price of $275.36.

First Solar Trading Up 2.0 %

Shares of FSLR traded up $4.43 during trading hours on Wednesday, reaching $229.97. The stock had a trading volume of 318,917 shares, compared to its average volume of 2,488,651. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The firm has a 50-day moving average of $235.68 and a 200 day moving average of $198.65. The company has a market cap of $24.62 billion, a P/E ratio of 23.83, a P/E/G ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same quarter in the prior year, the company earned $1.85 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts expect that First Solar will post 13.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, insider Caroline Stockdale sold 12,406 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the completion of the sale, the insider now directly owns 22,025 shares in the company, valued at $4,515,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders sold 56,873 shares of company stock worth $13,949,855 over the last three months. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently bought and sold shares of FSLR. Vanguard Group Inc. increased its holdings in shares of First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after purchasing an additional 105,236 shares during the period. Electron Capital Partners LLC increased its holdings in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares during the period. Schroder Investment Management Group increased its holdings in shares of First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after purchasing an additional 351,540 shares during the period. Finally, Norges Bank bought a new position in shares of First Solar during the fourth quarter worth approximately $298,123,000. 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.