First Solar (NASDAQ:FSLR) Given New $252.00 Price Target at Susquehanna

First Solar (NASDAQ:FSLR) had its price objective decreased by Susquehanna from $280.00 to $252.00 in a report published on Wednesday morning, Benzinga reports. Susquehanna currently has a positive rating on the solar cell manufacturer’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial assumed 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. Oppenheimer increased their price objective on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler boosted their target price on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $315.00 price target on shares of First Solar in a report on Wednesday, July 31st. Finally, Roth Mkm reduced their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $281.83.

First Solar Stock Performance

Shares of First Solar stock opened at $197.50 on Wednesday. The company has a 50 day moving average price of $222.68 and a 200 day moving average price of $223.93. The firm has a market capitalization of $21.14 billion, a P/E ratio of 20.70, a PEG ratio of 0.34 and a beta of 1.44. The company has a quick ratio of 1.65, 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.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Sell-side analysts expect that First Solar will post 13.39 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of First Solar

Large investors have recently bought and sold shares of the business. AlphaMark Advisors LLC purchased a new position in First Solar in the 3rd quarter worth approximately $25,000. Atlas Capital Advisors LLC lifted its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Summit Securities Group LLC acquired a new position in First Solar during the second quarter worth $36,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar in the 2nd quarter valued at $38,000. Finally, Alta Advisers Ltd purchased a new stake in First Solar in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.