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

First Solar (NASDAQ:FSLR) had its price target cut by analysts at Barclays from $290.00 to $275.00 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. Barclays‘s price objective indicates a potential upside of 48.62% from the company’s previous close.

FSLR has been the subject of several other reports. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. William Blair initiated coverage on First Solar in a report on Thursday, August 29th. They set a “market perform” rating on the stock. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Tuesday. Clarkson Capital assumed coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Finally, Morgan Stanley decreased their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Stock Performance

FSLR traded up $2.78 during trading hours on Wednesday, reaching $185.04. The company’s stock had a trading volume of 883,962 shares, compared to its average volume of 2,507,113. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company’s 50-day moving average is $217.70 and its 200-day moving average is $225.68. First Solar has a 52 week low of $135.88 and a 52 week high of $306.77. The firm has a market cap of $19.81 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that First Solar will post 13.16 EPS for the current year.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLR. AlphaMark Advisors LLC bought a new stake in First Solar in the third quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new stake in First Solar in the third quarter worth $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar during the 3rd quarter valued at $29,000. Atlas Capital Advisors LLC grew its stake 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. Finally, Summit Securities Group LLC bought a new stake in First Solar in the 2nd quarter valued at about $36,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.