First Solar (NASDAQ:FSLR) Given New $213.00 Price Target at Barclays

First Solar (NASDAQ:FSLR) had its price target lowered by Barclays from $228.00 to $213.00 in a report released on Monday,MarketScreener reports. The brokerage currently has an overweight rating on the solar cell manufacturer’s stock.

A number of other brokerages have also recently weighed in on FSLR. Royal Bank Of Canada lowered their price target on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. The Goldman Sachs Group dropped their target price on shares of First Solar from $316.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. DZ Bank upgraded shares of First Solar to a “strong sell” rating in a research report on Thursday, February 26th. Evercore decreased their price objective on shares of First Solar from $241.00 to $212.00 in a research note on Thursday, March 5th. Finally, Freedom Capital cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Nineteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $246.53.

First Solar Stock Up 1.1%

Shares of FSLR opened at $192.49 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The company has a 50-day simple moving average of $203.92 and a 200-day simple moving average of $233.81. First Solar has a 52 week low of $119.09 and a 52 week high of $285.99. The firm has a market capitalization of $20.68 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.41 and a beta of 1.61.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $3.65 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that First Solar will post 17.4 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, CEO Mark R. Widmar sold 1,937 shares of First Solar stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $200.80, for a total value of $388,949.60. Following the transaction, the chief executive officer owned 102,798 shares of the company’s stock, valued at approximately $20,641,838.40. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Caroline Stockdale sold 335 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $200.80, for a total transaction of $67,268.00. Following the sale, the insider directly owned 34,060 shares of the company’s stock, valued at $6,839,248. This represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 76,562 shares of company stock valued at $15,042,232 over the last 90 days. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Joule Financial LLC acquired a new position in First Solar during the 3rd quarter worth approximately $950,000. Mirae Asset Global Investments Co. Ltd. grew its position in First Solar by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after purchasing an additional 13,904 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in First Solar in the 3rd quarter valued at $1,193,000. Greenup Street Wealth Management LLC bought a new stake in First Solar during the 3rd quarter worth about $2,147,000. Finally, Candriam S.C.A. grew its holdings in shares of First Solar by 70.2% in the 3rd quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer’s stock valued at $33,163,000 after acquiring an additional 62,048 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.