Susquehanna Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price objective trimmed by Susquehanna from $280.00 to $252.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a positive rating on the solar cell manufacturer’s stock.

FSLR has been the subject of several other reports. Truist Financial began coverage on shares of First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Clarkson Capital began coverage on shares of First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Jefferies Financial Group reduced their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $315.00 target price on shares of First Solar in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $281.13.

First Solar Price Performance

FSLR opened at $204.94 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14. The stock has a market capitalization of $21.94 billion, a P/E ratio of 17.65, a P/E/G ratio of 0.34 and a beta of 1.48. The company’s 50-day simple moving average is $221.68 and its two-hundred day simple moving average is $223.93. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 earnings per share. As a group, analysts predict that First Solar will post 13.12 EPS for the current year.

Insider Buying and Selling

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’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 transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock worth $2,405,757 over the last three months. 0.58% of the stock is owned by insiders.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently made changes to their positions in FSLR. AlphaMark Advisors LLC bought a new stake in First Solar during the 3rd quarter valued at about $25,000. Atlas Capital Advisors LLC boosted its holdings in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Summit Securities Group LLC purchased a new stake in shares of First Solar in the second quarter valued at approximately $36,000. Itau Unibanco Holding S.A. bought a new position in First Solar in the second quarter worth approximately $38,000. Finally, Alta Advisers Ltd purchased a new position in First Solar during the 2nd quarter worth $45,000. 92.08% of the stock is currently owned by institutional investors.

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.