First Solar (NASDAQ:FSLR) Earns “Buy” Rating from Roth Mkm

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a note issued to investors on Wednesday,Benzinga reports. They presently have a $280.00 price objective on the solar cell manufacturer’s stock. Roth Mkm’s price target suggests a potential upside of 98.33% from the company’s previous close.

Several other analysts also recently commented on FSLR. Guggenheim reiterated a “buy” rating and issued a $335.00 price target on shares of First Solar in a research report on Wednesday, January 22nd. Truist Financial reissued a “buy” rating and set a $285.00 price target (down from $300.00) on shares of First Solar in a report on Wednesday. Wells Fargo & Company lowered their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley dropped 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. Finally, Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.63.

First Solar Stock Down 10.0 %

FSLR stock opened at $141.18 on Wednesday. The stock has a market cap of $15.11 billion, a P/E ratio of 12.16, a PEG ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar has a twelve month low of $140.84 and a twelve month high of $306.77. The company’s 50 day moving average is $173.30 and its two-hundred day moving average is $198.68.

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

Institutional Investors Weigh In On First Solar

Hedge funds have recently modified their holdings of the company. Strengthening Families & Communities LLC purchased a new stake in First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the third quarter worth $29,000. Larson Financial Group LLC grew its position in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in First Solar during the fourth quarter worth about $53,000. 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.