First Solar, Inc. (NASDAQ:FSLR) Receives $275.61 Average Price Target from Analysts

First Solar, Inc. (NASDAQ:FSLR) has been given a consensus rating of “Moderate Buy” by the thirty-two analysts that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $275.6085.

FSLR has been the subject of several analyst reports. Wall Street Zen raised First Solar from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Glj Research boosted their price target on First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Daiwa Securities Group increased their price target on First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Rothschild & Co Redburn upped their price objective on shares of First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Finally, BMO Capital Markets set a $263.00 target price on shares of First Solar in a research report on Thursday, January 29th.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Compound Planning Inc. grew its holdings in shares of First Solar by 20.3% during the fourth quarter. Compound Planning Inc. now owns 1,190 shares of the solar cell manufacturer’s stock valued at $311,000 after buying an additional 201 shares in the last quarter. Corient Private Wealth LLC grew its stake in First Solar by 28.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,609 shares of the solar cell manufacturer’s stock valued at $4,861,000 after acquiring an additional 4,096 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in First Solar by 17.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 25,522 shares of the solar cell manufacturer’s stock valued at $6,667,000 after acquiring an additional 3,866 shares in the last quarter. Caitlin John LLC acquired a new position in shares of First Solar in the 4th quarter valued at about $785,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of First Solar in the fourth quarter worth approximately $411,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 2.2%

Shares of NASDAQ:FSLR opened at $233.30 on Tuesday. The firm has a market cap of $25.04 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. The company has a fifty day simple moving average of $246.28 and a 200 day simple moving average of $234.41. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. First Solar has a 12-month low of $116.56 and a 12-month high of $285.99.

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.