BMO Capital Markets Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price
by Amy Steele · The Cerbat GemFirst Solar (NASDAQ:FSLR – Get Free Report) had its target price decreased by equities researchers at BMO Capital Markets from $252.00 to $237.00 in a research note issued on Monday,MarketScreener reports. The firm presently has a “market perform” rating on the solar cell manufacturer’s stock. BMO Capital Markets’ price target would indicate a potential upside of 24.79% from the company’s current price.
A number of other analysts have also issued reports on FSLR. Evercore decreased their target price on shares of First Solar from $241.00 to $212.00 in a research report on Thursday, March 5th. Robert W. Baird reaffirmed a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. Bank of America decreased their target price on shares of First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. The Goldman Sachs Group lowered their target price on shares of First Solar from $316.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, Morgan Stanley decreased their price target on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $245.10.
Check Out Our Latest Stock Report on FSLR
First Solar Price Performance
Shares of FSLR traded down $0.52 during trading hours on Monday, reaching $189.92. 203,673 shares of the company traded hands, compared to its average volume of 2,320,597. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $20.41 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.41 and a beta of 1.61. First Solar has a fifty-two week low of $119.09 and a fifty-two week high of $285.99. The stock has a fifty day simple moving average of $204.51 and a 200 day simple moving average of $234.09.
First Solar (NASDAQ:FSLR – Get Free Report) last announced its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.38). The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.65 EPS. As a group, research analysts predict that First Solar will post 13.05 EPS for the current fiscal year.
Insider Transactions at First Solar
In related news, insider Caroline Stockdale sold 335 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $200.80, for a total transaction of $67,268.00. Following the sale, the insider directly owned 34,060 shares of the company’s stock, valued at approximately $6,839,248. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total value of $1,800,971.64. Following the transaction, the general counsel owned 9,850 shares in the company, valued at $1,966,257. This trade represents a 47.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 76,562 shares of company stock valued at $15,042,232 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.
Institutional Investors Weigh In On First Solar
Institutional investors and hedge funds have recently bought and sold shares of the business. Aventura Private Wealth LLC acquired a new position in First Solar during the 4th quarter valued at approximately $25,000. Reflection Asset Management acquired a new position in shares of First Solar during the fourth quarter valued at $26,000. Commonwealth Retirement Investments LLC bought a new position in shares of First Solar during the fourth quarter worth about $26,000. Larson Financial Group LLC lifted its position in First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.08% of the company’s stock.
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.