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

First Solar (NASDAQ:FSLR) had its price target trimmed by Guggenheim from $253.00 to $202.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

A number of other research firms also recently weighed in on FSLR. Redburn Atlantic initiated coverage on First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lowered their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley set a $223.00 price target on shares of First Solar and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Robert W. Baird lowered their price objective on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler lowered their price target on First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy 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 $223.87.

First Solar Price Performance

Shares of FSLR opened at $130.54 on Thursday. The firm has a market cap of $14.00 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar has a 52-week low of $116.56 and a 52-week high of $306.77. The business’s 50 day moving average price is $131.03 and its two-hundred day moving average price is $166.11. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The company had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. On average, equities analysts anticipate that First Solar will post 13.05 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,272 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the transaction, the chief executive officer now directly owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. The trade was a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 over the last quarter. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Whalen Wealth Management Inc. grew its stake in First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after purchasing an additional 34,074 shares in the last quarter. Paragon Capital Management Inc. bought a new position in shares of First Solar in the fourth quarter worth $1,240,000. Robeco Institutional Asset Management B.V. raised its position in shares of First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after buying an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners grew its position in First Solar by 41,342.9% during the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock worth $511,000 after buying an additional 2,894 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.