First Solar (NASDAQ:FSLR) Downgraded to Hold at DZ Bank

DZ Bank cut shares of First Solar (NASDAQ:FSLRFree Report) from a buy rating to a hold rating in a report published on Wednesday morning, Marketbeat.com reports. DZ Bank currently has $270.00 price target on the solar cell manufacturer’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays boosted their price target on shares of First Solar from $227.00 to $228.00 and gave the stock an overweight rating in a research report on Wednesday, May 15th. Morgan Stanley boosted their price target on shares of First Solar from $245.00 to $248.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Evercore ISI upgraded shares of First Solar from an in-line rating to an outperform rating and set a $227.00 price target on the stock in a research report on Tuesday, April 23rd. Mizuho boosted their price target on shares of First Solar from $196.00 to $209.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Finally, Piper Sandler boosted their price target on shares of First Solar from $195.00 to $219.00 and gave the stock an overweight rating in a research report on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Solar has a consensus rating of Moderate Buy and an average target price of $244.96.

View Our Latest Analysis on First Solar

First Solar Price Performance

Shares of FSLR opened at $278.19 on Wednesday. The firm has a market capitalization of $29.78 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 0.37 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. First Solar has a one year low of $129.21 and a one year high of $286.60. The stock’s fifty day moving average is $190.08 and its 200-day moving average is $167.51.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Equities analysts anticipate that First Solar will post 13.56 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard D. Chapman sold 7,264 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $248.95, for a total value of $1,808,372.80. Following the sale, the director now directly owns 10,440 shares of the company’s stock, valued at approximately $2,599,038. The disclosure for this sale can be found here. Insiders sold 51,455 shares of company stock valued at $9,617,472 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar during the first quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar in the fourth quarter valued at $27,000. Baystate Wealth Management LLC acquired a new position in shares of First Solar in the fourth quarter valued at $29,000. Estabrook Capital Management acquired a new position in shares of First Solar in the third quarter valued at $29,000. Finally, Riverview Trust Co acquired a new position in shares of First Solar in the first quarter valued at $32,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

About First Solar

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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.

Further Reading

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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