Piper Sandler Cuts First Solar (NASDAQ:FSLR) Price Target to $210.00

First Solar (NASDAQ:FSLR) had its price target trimmed by Piper Sandler from $245.00 to $210.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the solar cell manufacturer’s stock.

Other equities analysts also recently issued reports about the company. UBS Group boosted their price objective on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm reduced their price target on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Seaport Res Ptn raised First Solar to a “hold” rating in a research note on Tuesday, November 5th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Finally, Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Trading Up 2.3 %

NASDAQ:FSLR opened at $186.05 on Friday. The firm has a market capitalization of $19.92 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.32 and a beta of 1.48. The business has a 50 day simple moving average of $212.65 and a 200 day simple moving average of $225.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $2.50 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that First Solar will post 13.15 EPS for the current year.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new stake in shares of First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar during the 3rd quarter worth about $25,000. Kennebec Savings Bank purchased a new position in First Solar during the 3rd quarter valued at about $29,000. Atlas Capital Advisors LLC increased its holdings in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.