First Solar (NASDAQ:FSLR) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of First Solar (NASDAQ:FSLR) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $254.00 price objective on the solar cell manufacturer’s stock, up from their prior price objective of $200.00.

Several other equities analysts also recently commented on FSLR. Susquehanna decreased their price objective on shares of First Solar from $285.00 to $280.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Clarkson Capital began coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Jefferies Financial Group cut their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Truist Financial initiated coverage on First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $288.46.

First Solar Stock Performance

Shares of FSLR opened at $198.47 on Tuesday. The company has a market cap of $21.24 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The firm has a 50-day moving average of $224.06 and a 200-day moving average of $223.31. First Solar has a one year low of $129.21 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the previous year, the business earned $1.85 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts forecast that First Solar will post 13.53 earnings per share for the current year.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar during the first quarter worth $25,000. AlphaMark Advisors LLC bought a new stake in shares of First Solar in the 3rd quarter valued at about $25,000. Atlas Capital Advisors LLC increased its stake in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Riverview Trust Co bought a new position in shares of First Solar during the first quarter worth about $32,000. Finally, Summit Securities Group LLC acquired a new position in shares of First Solar in the second quarter worth approximately $36,000. 92.08% of the stock is owned by institutional investors.

About First Solar

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.