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

First Solar (NASDAQ:FSLR) had its target price lowered by investment analysts at Morgan Stanley from $275.00 to $230.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. Morgan Stanley’s target price would suggest a potential upside of 17.11% from the stock’s current price.

Several other brokerages also recently weighed in on FSLR. Robert W. Baird reaffirmed a “neutral” rating and issued a $205.00 target price (down from $264.00) on shares of First Solar in a report on Wednesday, February 25th. Jefferies Financial Group restated a “hold” rating and issued a $205.00 price target on shares of First Solar in a research note on Thursday. Raymond James Financial assumed coverage on First Solar in a report on Monday, January 12th. They set a “market perform” rating on the stock. Bank of America reduced their target price on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, Needham & Company LLC boosted their target price on shares of First Solar from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Twenty investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $254.48.

First Solar Stock Down 0.4%

First Solar stock opened at $196.40 on Monday. First Solar has a twelve month low of $116.56 and a twelve month high of $285.99. The stock has a 50 day moving average of $241.94 and a two-hundred day moving average of $236.70. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.30 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the firm posted $3.65 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts expect that First Solar will post 13.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC raised its position in shares of First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after buying an additional 39 shares during the last quarter. Apollon Wealth Management LLC boosted its position in First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after acquiring an additional 44 shares during the last quarter. Root Financial Partners LLC grew its stake in First Solar by 18.2% in the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after acquiring an additional 45 shares during the period. FIL Ltd grew its stake in First Solar by 6.9% in the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock worth $185,000 after acquiring an additional 46 shares during the period. Finally, Signaturefd LLC raised its holdings in First Solar by 2.6% in the 3rd quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after acquiring an additional 47 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.