First Solar (NASDAQ:FSLR) Stock Moved Down to Hold by Glj Research

First Solar (NASDAQ:FSLR) was downgraded by investment analysts at Glj Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Benzinga reports. They currently have a $161.00 price objective on the solar cell manufacturer’s stock. Glj Research‘s target price indicates a potential downside of 7.20% from the company’s previous close.

Several other brokerages also recently commented on FSLR. Weiss Ratings downgraded First Solar from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Argus reiterated a “buy” rating and set a $275.00 price target on shares of First Solar in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating in a report on Thursday, August 27th. Citigroup lowered shares of First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, TD Cowen raised shares of First Solar to a “strong-buy” rating in a research note on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $259.90.

First Solar Trading Down 1.9%

Shares of FSLR stock traded down $3.40 during trading hours on Friday, hitting $173.50. 763,256 shares of the company were exchanged, compared to its average volume of 2,340,392. The firm has a fifty day simple moving average of $189.51 and a 200 day simple moving average of $216.51. First Solar has a 52-week low of $165.86 and a 52-week high of $320.95. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.48 and a beta of 1.80.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.63. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.29 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%. The firm’s revenue for the quarter was down 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.24 EPS. Sell-side analysts anticipate that First Solar will post 17.63 EPS for the current year.

Insider Transactions at First Solar

In other news, EVP Samantha Sloan sold 127 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $222.95, for a total transaction of $28,314.65. Following the transaction, the executive vice president directly owned 2,018 shares in the company, valued at approximately $449,913.10. This represents a 5.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 3,425 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $218.95, for a total value of $749,903.75. Following the transaction, the chief technology officer directly owned 7,471 shares in the company, valued at approximately $1,635,775.45. This represents a 31.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,681 shares of company stock valued at $3,756,286 over the last quarter. 0.39% of the stock is owned by company insiders.

Institutional Trading of First Solar

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in First Solar in the second quarter worth $3,310,298,000. Hill City Capital LP bought a new position in First Solar in the 2nd quarter worth $620,133,555. Deutsche Bank AG purchased a new stake in shares of First Solar in the 2nd quarter worth about $212,626,000. Bank of America Corp DE purchased a new stake in shares of First Solar in the 2nd quarter worth about $171,043,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of First Solar during the 2nd quarter valued at about $164,962,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar News Summary

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar reported third-quarter adjusted earnings of $5.30 per share, well above the $4.67 analyst consensus and up from $4.24 a year earlier. The company also authorized a $500 million share-repurchase program, which could support per-share results and signal management confidence. First Solar Announces Third Quarter Results and Buyback
• Positive Sentiment: First Solar signed a non-exclusive U.S. patent-licensing agreement with CubicPV covering perovskite solar technology. The agreement may accelerate development of next-generation photovoltaic products and strengthen the company’s competitive position. First Solar and CubicPV Patent Licensing Agreement
• Positive Sentiment: The company inaugurated the first phase of its South Carolina production facility. The approximately $330 million site is expected to reach 3.4 gigawatts of annual capacity after its second phase is completed, expanding domestic manufacturing capabilities. South Carolina Production Facility
• Neutral Sentiment: Needham lowered its price target from $303 to $236 but maintained a Buy rating, implying substantial potential upside if First Solar’s backlog, margins and technology investments support future growth.
• Negative Sentiment: Third-quarter revenue fell 22.8% year over year to $1.23 billion, missing the $1.29 billion consensus estimate. Management’s full-year revenue guidance midpoint of $4.75 billion was reported as roughly 5.7% below analysts’ expectations, overshadowing the earnings beat. First Solar Q3 Sales Miss
• Negative Sentiment: Sanford C. Bernstein cut its price target from $197 to $169 and downgraded First Solar to Underperform. Higher interest rates remain an additional risk for utility-scale solar project economics and valuation.

About First Solar

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.