First Solar (NASDAQ:FSLR) Given Buy Rating at Guggenheim

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reiterated by investment analysts at Guggenheim in a research note issued on Wednesday,Benzinga reports. They presently have a $335.00 price target on the solar cell manufacturer’s stock. Guggenheim’s price target would indicate a potential upside of 92.41% from the company’s previous close.

FSLR has been the subject of several other reports. Robert W. Baird lowered their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Susquehanna lowered their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Finally, Truist Financial began coverage on shares of First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective for the company. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

First Solar Price Performance

FSLR stock opened at $174.11 on Wednesday. First Solar has a 12 month low of $135.88 and a 12 month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $189.56 and a 200 day moving average price of $208.59. The stock has a market cap of $18.64 billion, a PE ratio of 15.00, a P/E/G ratio of 0.21 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm posted $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate that First Solar will post 13.07 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in First Solar by 4.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 51,473 shares of the solar cell manufacturer’s stock worth $11,605,000 after purchasing an additional 2,077 shares during the last quarter. Blair William & Co. IL grew its position in First Solar by 26.3% during the 2nd quarter. Blair William & Co. IL now owns 5,626 shares of the solar cell manufacturer’s stock worth $1,268,000 after purchasing an additional 1,172 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in First Solar by 22.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 939 shares of the solar cell manufacturer’s stock worth $211,000 after purchasing an additional 174 shares during the last quarter. Profund Advisors LLC grew its position in First Solar by 6.9% during the 2nd quarter. Profund Advisors LLC now owns 2,165 shares of the solar cell manufacturer’s stock worth $488,000 after purchasing an additional 139 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new stake in First Solar during the 2nd quarter worth approximately $225,000. 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.