Citigroup Cuts First Solar (NASDAQ:FSLR) Price Target to $236.00

First Solar (NASDAQ:FSLR) had its price target lowered by Citigroup from $254.00 to $236.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the solar cell manufacturer’s stock.

A number of other research firms have also commented on FSLR. The Goldman Sachs Group dropped their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird dropped their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Guggenheim restated a “buy” rating and set a $335.00 price target on shares of First Solar in a report on Wednesday, January 22nd. Evercore ISI dropped their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their price objective on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $268.00.

First Solar Stock Up 6.4 %

FSLR stock opened at $156.84 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $16.79 billion, a PE ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47. First Solar has a 1 year low of $144.28 and a 1 year high of $306.77. The company has a fifty day simple moving average of $174.00 and a 200 day simple moving average of $199.08.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Sell-side analysts anticipate that First Solar will post 13.05 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its position in First Solar by 10.1% in the 3rd quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock valued at $3,253,000 after acquiring an additional 1,197 shares in the last quarter. Private Advisor Group LLC raised its position in shares of First Solar by 4.9% during the 3rd quarter. Private Advisor Group LLC now owns 3,877 shares of the solar cell manufacturer’s stock valued at $967,000 after acquiring an additional 180 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of First Solar by 12.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,912 shares of the solar cell manufacturer’s stock worth $1,475,000 after purchasing an additional 636 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of First Solar by 6.8% during the third quarter. State of Alaska Department of Revenue now owns 12,434 shares of the solar cell manufacturer’s stock worth $3,101,000 after purchasing an additional 795 shares during the period. Finally, Integrated Advisors Network LLC increased its holdings in First Solar by 23.4% in the third quarter. Integrated Advisors Network LLC now owns 7,239 shares of the solar cell manufacturer’s stock valued at $1,806,000 after purchasing an additional 1,372 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

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.