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

Truist Financial reiterated their buy rating on shares of First Solar (NASDAQ:FSLR) in a report issued on Wednesday morning,Benzinga reports. The firm currently has a $285.00 target price on the solar cell manufacturer’s stock, down from their prior target price of $300.00.

Other analysts also recently issued research reports about the stock. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Tuesday, October 29th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Robert W. Baird lowered their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company cut their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup lowered their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $268.00.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $156.84 on Wednesday. The firm has a market cap of $16.79 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar has a 52 week low of $144.28 and a 52 week high of $306.77. The firm’s fifty day moving average is $174.00 and its 200-day moving average is $199.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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%. Sell-side analysts predict that First Solar will post 13.05 earnings per share for the current year.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its position in shares of First Solar by 4.7% during the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after buying an additional 738 shares during the last quarter. Amiral Gestion bought a new position in First Solar during the 4th quarter valued at $529,000. Wormser Freres Gestion boosted its holdings in First Solar by 54.7% during the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock worth $195,000 after acquiring an additional 378 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in First Solar during the 4th quarter worth $2,129,000. Finally, JT Stratford LLC bought a new stake in shares of First Solar in the 4th quarter worth $370,000. 92.08% of the stock is owned by hedge funds and other 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.