Jefferies Financial Group Lowers First Solar (NASDAQ:FSLR) Price Target to $266.00

First Solar (NASDAQ:FSLR) had its target price dropped by analysts at Jefferies Financial Group from $271.00 to $266.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 25.77% from the stock’s previous close.

Several other analysts have also recently commented on FSLR. Susquehanna boosted their price target on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Truist Financial initiated coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. Clarkson Capital started coverage on shares of First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective for the company. Finally, Oppenheimer raised their target price on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $285.44.

First Solar Stock Up 3.1 %

Shares of NASDAQ FSLR opened at $211.49 on Thursday. The firm has a market cap of $22.64 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The company’s 50-day simple moving average is $227.56 and its 200-day simple moving average is $221.11. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the previous year, the firm posted $1.85 EPS. First Solar’s revenue was up 24.6% compared to the same quarter last year. Equities analysts predict that First Solar will post 13.53 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares in the company, valued at $108,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,885 shares of company stock valued at $2,405,757. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Electron Capital Partners LLC raised its position in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after purchasing an additional 7,660,409 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after buying an additional 279,719 shares during the period. Anomaly Capital Management LP acquired a new stake in First Solar in the second quarter valued at approximately $53,752,000. Canada Pension Plan Investment Board lifted its stake in First Solar by 2,429.1% in the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after acquiring an additional 167,629 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new position in First Solar during the 4th quarter worth approximately $26,359,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.