Morgan Stanley Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target dropped by stock analysts at Morgan Stanley from $329.00 to $297.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the solar cell manufacturer’s stock. Morgan Stanley’s price target suggests a potential upside of 52.71% from the company’s previous close.

A number of other equities analysts have also commented on the company. Truist Financial assumed coverage on First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Bank of America reduced their target price on First Solar from $343.00 to $321.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Robert W. Baird decreased their price target on First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday. Finally, Susquehanna decreased their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Stock Down 1.5 %

FSLR stock opened at $194.48 on Wednesday. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The stock has a fifty day moving average of $222.68 and a 200-day moving average of $223.93. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business earned $2.50 EPS. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that First Solar will post 13.39 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock valued at $2,405,757. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaMark Advisors LLC purchased a new position in shares of First Solar during the third quarter valued at about $25,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the period. Summit Securities Group LLC bought a new position in shares of First Solar in the 2nd quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new position in shares of First Solar in the 2nd quarter valued at approximately $38,000. Finally, Alta Advisers Ltd bought a new stake in shares of First Solar during the second quarter valued at approximately $45,000. 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.