First Solar (NASDAQ:FSLR) Price Target Lowered to $236.00 at Citigroup

First Solar (NASDAQ:FSLR) had its price target reduced by Citigroup from $254.00 to $236.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the solar cell manufacturer’s stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada dropped their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Robert W. Baird lowered their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Piper Sandler raised their price target on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Three research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $268.00.

First Solar Stock Up 6.4 %

FSLR stock opened at $156.84 on Wednesday. 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 firm has a 50 day simple moving average of $174.00 and a 200-day simple moving average of $199.08. The company has a market capitalization of $16.79 billion, a P/E ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47. First Solar has a twelve month low of $144.28 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, equities research analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the 3rd quarter valued at $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar during the third quarter worth $29,000. Larson Financial Group LLC boosted its position in First Solar by 214.0% during the third 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 last quarter. Smartleaf Asset Management LLC grew its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in First Solar in the 4th quarter worth about $53,000. 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.