Robert W. Baird Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price lowered by stock analysts at Robert W. Baird from $318.00 to $290.00 in a note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the solar cell manufacturer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 57.52% from the stock’s current price.

FSLR has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Morgan Stanley upped their price target on shares of First Solar from $245.00 to $323.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Sanford C. Bernstein cut their target price on shares of First Solar from $217.00 to $197.00 and set an “underperform” rating for the company in a research note on Friday, July 31st. BMO Capital Markets cut shares of First Solar from a “hold” rating to a “market perform” rating in a research report on Thursday, August 27th. Finally, Glj Research dropped their target price on First Solar from $315.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $266.53.

First Solar Stock Performance

FSLR opened at $184.10 on Tuesday. The stock has a market capitalization of $19.78 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.74. The stock’s 50 day moving average price is $212.17 and its 200-day moving average price is $221.27. First Solar has a 52-week low of $182.99 and a 52-week high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $3.18 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts forecast that First Solar will post 17.78 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Michael Koralewski sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the transaction, the insider directly owned 7,642 shares of the company’s stock, valued at approximately $1,692,779.42. The trade was a 47.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 800 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $160,000.00. Following the completion of the transaction, the chief technology officer owned 5,842 shares of the company’s stock, valued at approximately $1,168,400. This represents a 12.04% 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 sold 15,881 shares of company stock valued at $3,617,086 in the last three months. 0.39% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Several institutional investors have recently modified their holdings of FSLR. Reflection Asset Management acquired a new stake in shares of First Solar in the fourth quarter worth approximately $26,000. Commonwealth Retirement Investments LLC acquired a new stake in First Solar during the 4th quarter worth $26,000. Larson Financial Group LLC grew its holdings in shares of First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after buying an additional 55 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at about $30,000. Finally, Clearstead Trust LLC purchased a new position in shares of First Solar in the second quarter worth about $34,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

First Solar, Inc is a renewable energy technology company that designs and manufactures photovoltaic (PV) solar modules. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe). The company also provides supporting services, including project development, engineering, procurement and construction support, operations and maintenance, and module recycling.

First Solar primarily serves utility-scale solar developers, system owners and operators, commercial customers, and government entities.