First Solar (NASDAQ:FSLR) Upgraded by Mizuho to “Outperform” Rating

First Solar (NASDAQ:FSLR) was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat reports. The firm currently has a $259.00 target price on the solar cell manufacturer’s stock, up from their prior target price of $218.00. Mizuho’s price objective suggests a potential upside of 63.29% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Tuesday, October 29th. Royal Bank of Canada dropped their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley decreased their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price target (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, First Solar has a consensus rating of “Buy” and an average target price of $276.38.

First Solar Stock Down 1.9 %

Shares of NASDAQ FSLR opened at $158.61 on Tuesday. The firm has a market cap of $16.98 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company’s 50-day simple moving average is $181.46 and its 200-day simple moving average is $202.92. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 52-week low of $141.70 and a 52-week high of $306.77.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in shares of First Solar in the 2nd quarter valued at approximately $650,000. CWM LLC raised its position in First Solar by 9.1% in the third quarter. CWM LLC now owns 3,971 shares of the solar cell manufacturer’s stock valued at $991,000 after purchasing an additional 331 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in First Solar by 350.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 900 shares of the solar cell manufacturer’s stock valued at $224,000 after purchasing an additional 700 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of First Solar by 429.9% during the third quarter. Exchange Traded Concepts LLC now owns 1,775 shares of the solar cell manufacturer’s stock worth $443,000 after buying an additional 1,440 shares during the period. Finally, Sound Income Strategies LLC boosted its position in shares of First Solar by 555.6% during the third quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock worth $59,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.