First Solar (NASDAQ:FSLR) Given a $194.00 Price Target by Jefferies Financial Group Analysts

First Solar (NASDAQ:FSLR) has been assigned a $194.00 price target by equities research analysts at Jefferies Financial Group in a note issued to investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Jefferies Financial Group’s price target indicates a potential upside of 16.29% from the company’s previous close.

A number of other research firms have also recently weighed in on FSLR. Royal Bank Of Canada upped their target price on shares of First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. UBS Group reiterated a “positive” rating on shares of First Solar in a research report on Tuesday, July 8th. Wall Street Zen lowered First Solar from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Piper Sandler reduced their target price on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, BMO Capital Markets cut their price target on First Solar from $200.00 to $187.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $228.87.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $166.82 on Tuesday. The stock has a market capitalization of $17.89 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.34 and a beta of 1.52. The business has a 50-day moving average of $162.48 and a two-hundred day moving average of $153.92. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39.

First Solar (NASDAQ:FSLR) last posted its earnings results 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 firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. On average, equities research analysts predict that First Solar will post 13.05 EPS for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the transaction, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock worth $2,515,172 in the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently modified their holdings of FSLR. Garde Capital Inc. bought a new stake in First Solar during the first quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new stake in First Solar during the 1st quarter worth approximately $25,000. TD Private Client Wealth LLC increased its holdings in First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing an additional 85 shares during the period. Harbor Investment Advisory LLC increased its stake in shares of First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after buying an additional 100 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after purchasing an additional 219 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

About First Solar

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.