First Solar (NASDAQ:FSLR) Given New $215.00 Price Target at Bank of America

First Solar (NASDAQ:FSLR) had its target price dropped by stock analysts at Bank of America from $236.00 to $215.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Bank of America‘s price objective would indicate a potential upside of 65.32% from the stock’s previous close.

A number of other analysts have also issued reports on FSLR. Morgan Stanley decreased their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $245.00 price objective (down from $285.00) on shares of First Solar in a research report on Wednesday, April 2nd. UBS Group reduced their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Redburn Atlantic began coverage on shares of First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada lowered their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.42.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $130.05 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a market cap of $13.92 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company has a 50-day simple moving average of $144.76 and a 200-day simple moving average of $180.27. First Solar has a 12 month low of $120.60 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, insider Georges Antoun sold 229 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now owns 52,836 shares of the company’s stock, valued at $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last ninety days. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of institutional investors have recently made changes to their positions in FSLR. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the 4th quarter valued at $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar in the 4th quarter worth $53,000. Banque Transatlantique SA acquired a new stake in shares of First Solar in the fourth quarter valued at $53,000. Finally, CoreFirst Bank & Trust bought a new position in First Solar during the fourth quarter valued at about $54,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.