First Solar’s (FSLR) Buy Rating Reiterated at Truist Financial

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reiterated by equities research analysts at Truist Financial in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $285.00 price objective on the solar cell manufacturer’s stock, down from their previous price objective of $300.00. Truist Financial’s target price points to a potential upside of 93.27% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. The Goldman Sachs Group cut their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Bank of America reduced their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Evercore ISI decreased their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Robert W. Baird cut their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $275.00.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $147.46 on Wednesday. First Solar has a 1 year low of $141.76 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a fifty day moving average price of $174.55 and a two-hundred day moving average price of $199.38. The firm has a market cap of $15.79 billion, a P/E ratio of 12.70, a PEG ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts forecast that First Solar will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several hedge funds have recently bought and sold shares of the business. Raymond James & Associates increased its holdings in shares of First Solar by 10.1% during the 3rd quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock valued at $3,253,000 after acquiring an additional 1,197 shares during the last quarter. Private Advisor Group LLC grew its position in shares of First Solar by 4.9% in the third quarter. Private Advisor Group LLC now owns 3,877 shares of the solar cell manufacturer’s stock valued at $967,000 after purchasing an additional 180 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of First Solar by 12.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,912 shares of the solar cell manufacturer’s stock worth $1,475,000 after purchasing an additional 636 shares during the period. State of Alaska Department of Revenue lifted its position in shares of First Solar by 6.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,434 shares of the solar cell manufacturer’s stock worth $3,101,000 after purchasing an additional 795 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in First Solar by 23.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 7,239 shares of the solar cell manufacturer’s stock valued at $1,806,000 after buying an additional 1,372 shares during the last quarter. 92.08% of the stock is 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.