Truist Financial Reiterates “Buy” Rating for First Solar (NASDAQ:FSLR)

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a report issued on Wednesday,Benzinga reports. They currently have a $285.00 price target on the solar cell manufacturer’s stock, down from their prior price target of $300.00. Truist Financial’s price objective points to a potential upside of 101.87% from the company’s current price.

Several other equities research analysts also recently commented on FSLR. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Robert W. Baird lowered their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada cut their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Tuesday, October 29th. Finally, Evercore ISI cut their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus price target of $263.63.

First Solar Stock Performance

Shares of First Solar stock opened at $141.18 on Wednesday. The business has a 50-day simple moving average of $173.30 and a 200 day simple moving average of $198.68. First Solar has a one year low of $140.84 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last issued its 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

Institutional Trading of First Solar

A number of institutional investors have recently modified their holdings of FSLR. Covestor Ltd raised its holdings in First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares during the period. Field & Main Bank lifted its holdings in First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after purchasing an additional 55 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares during the period. Demars Financial Group LLC grew its holdings in First Solar by 1.4% during the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after buying an additional 56 shares in the last quarter. Finally, Doliver Advisors LP grew its holdings in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after buying an additional 56 shares in the last quarter. 92.08% of the stock is currently 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.