Mizuho Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target dropped by research analysts at Mizuho from $335.00 to $326.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has an “outperform” rating on the solar cell manufacturer’s stock. Mizuho’s target price indicates a potential upside of 47.88% from the stock’s current price.

Several other analysts also recently weighed in on the stock. BMO Capital Markets set a $263.00 target price on shares of First Solar in a report on Thursday, January 29th. Rothschild & Co Redburn boosted their price objective on First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. KeyCorp reissued an “overweight” rating on shares of First Solar in a research note on Friday, October 31st. Susquehanna lifted their target price on First Solar from $285.00 to $292.00 and gave the company a “positive” rating in a research report on Wednesday, January 21st. Finally, DZ Bank lowered shares of First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.61.

First Solar Trading Down 3.2%

NASDAQ FSLR opened at $220.45 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The stock has a market capitalization of $23.66 billion, a P/E ratio of 16.93, a PEG ratio of 0.29 and a beta of 1.60. The firm’s 50-day moving average is $249.34 and its two-hundred day moving average is $232.70. First Solar has a 12 month low of $116.56 and a 12 month high of $285.99.

Institutional Trading of First Solar

Several hedge funds have recently added to or reduced their stakes in FSLR. Aventura Private Wealth LLC purchased a new stake in shares of First Solar in the 4th quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC acquired a new position in shares of First Solar during the fourth quarter worth $26,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar during the second quarter worth $26,000. Larson Financial Group LLC increased its holdings in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.