TD Cowen Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price lowered by stock analysts at TD Cowen from $275.00 to $200.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. TD Cowen’s price target would indicate a potential upside of 58.02% from the stock’s previous close.

FSLR has been the topic of several other reports. Barclays cut their price target on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Guggenheim decreased their price objective on shares of First Solar from $304.00 to $253.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Redburn Atlantic began coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 price objective (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Finally, UBS Group dropped their price objective on shares of First Solar from $285.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.87.

First Solar Stock Up 0.6 %

Shares of NASDAQ:FSLR opened at $126.57 on Wednesday. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.19 and a beta of 1.48. First Solar has a 12 month low of $116.56 and a 12 month high of $306.77. The company has a 50-day moving average price of $131.37 and a 200 day moving average price of $166.87. 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 (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. As a group, equities research analysts predict that First Solar will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other news, CTO Markus Gloeckler sold 380 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now directly owns 17,594 shares in the company, valued at $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the transaction, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last ninety days. Insiders own 0.48% of the company’s stock.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whalen Wealth Management Inc. increased its position in First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after purchasing an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after buying an additional 34,074 shares during the period. Paragon Capital Management Inc. acquired a new stake in shares of First Solar during the 4th quarter worth approximately $1,240,000. Robeco Institutional Asset Management B.V. raised its position in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after buying an additional 49,074 shares during the period. Finally, Golden State Equity Partners lifted its holdings in First Solar by 41,342.9% in the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock valued at $511,000 after acquiring an additional 2,894 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.