Susquehanna Cuts First Solar (NASDAQ:FSLR) Price Target to $250.00

First Solar (NASDAQ:FSLR) had its price objective decreased by Susquehanna from $280.00 to $250.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price objective would indicate a potential upside of 23.52% from the stock’s previous close.

A number of other research firms also recently weighed in on FSLR. UBS Group dropped their price target on shares of First Solar from $330.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Robert W. Baird reiterated a “neutral” rating and set a $205.00 price target (down from $264.00) on shares of First Solar in a report on Wednesday, February 25th. BMO Capital Markets dropped their target price on shares of First Solar from $263.00 to $252.00 and set a “market perform” rating on the stock in a report on Friday, March 27th. Guggenheim dropped their price objective on shares of First Solar from $312.00 to $269.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Finally, Morgan Stanley reduced their target price on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Twenty analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $246.13.

First Solar Trading Up 0.8%

FSLR stock opened at $202.39 on Thursday. First Solar has a 1-year low of $117.65 and a 1-year high of $285.99. The firm has a market cap of $21.72 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.35 and a beta of 1.61. The business’s 50 day moving average is $209.13 and its 200-day moving average is $235.16. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03.

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

Insider Buying and Selling

In other news, CFO Alexander R. Bradley sold 14,106 shares of First Solar stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the completion of the transaction, the chief financial officer directly owned 30,000 shares of the company’s stock, valued at $5,999,100. The trade was a 31.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Widmar sold 1,937 shares of First Solar stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $388,949.60. Following the transaction, the chief executive officer directly owned 102,798 shares of the company’s stock, valued at approximately $20,641,838.40. This trade represents a 1.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,989 shares of company stock worth $14,921,902 over the last ninety days. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of large investors have recently modified their holdings of FSLR. Joule Financial LLC acquired a new stake in First Solar during the 3rd quarter worth about $950,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in First Solar by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after purchasing an additional 13,904 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in First Solar in the third quarter valued at approximately $1,193,000. State Street Corp raised its holdings in First Solar by 2.1% during the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after acquiring an additional 111,927 shares during the period. Finally, Greenup Street Wealth Management LLC bought a new stake in First Solar during the 3rd quarter valued at $2,147,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

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.