First Solar (NASDAQ:FSLR) Stock Rating Upgraded by Citigroup

First Solar (NASDAQ:FSLR) was upgraded by investment analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, Zacks reports.

A number of other analysts also recently commented on FSLR. Glj Research downgraded shares of First Solar from a “buy” rating to a “hold” rating and set a $161.00 target price on the stock. in a report on Friday. HC Wainwright initiated coverage on shares of First Solar in a report on Thursday, August 27th. They set a “buy” rating for the company. Argus restated a “buy” rating and issued a $275.00 target price on shares of First Solar in a report on Wednesday, August 26th. Piper Sandler cut their price target on shares of First Solar from $260.00 to $251.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Finally, Sanford C. Bernstein reduced their price objective on First Solar from $197.00 to $169.00 and set an “underperform” rating for the company in a research note on Friday. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $258.38.

First Solar Stock Up 4.8%

First Solar stock traded up $8.43 during trading hours on Friday, hitting $182.83. 2,092,481 shares of the company traded hands, compared to its average volume of 2,352,294. First Solar has a 1-year low of $165.86 and a 1-year high of $320.95. The firm has a market cap of $19.65 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.47 and a beta of 1.73. The firm’s 50-day simple moving average is $188.72 and its two-hundred day simple moving average is $216.19.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 EPS for the quarter, topping the consensus estimate of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $4.24 earnings per share. The firm’s quarterly revenue was down 22.8% compared to the same quarter last year. On average, equities research analysts predict that First Solar will post 17.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Jason E. Dymbort sold 3,700 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total transaction of $922,706.00. Following the transaction, the general counsel owned 5,624 shares of the company’s stock, valued at approximately $1,402,513.12. This represents a 39.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $174.00, for a total value of $139,200.00. Following the transaction, the chief technology officer directly owned 5,042 shares in the company, valued at approximately $877,308. This represents a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,256 shares of company stock valued at $1,455,813 over the last quarter. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On First Solar

Large investors have recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC raised its position in shares of First Solar by 2.3% in the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer’s stock valued at $478,000 after purchasing an additional 45 shares during the period. Hilltop Holdings Inc. boosted its holdings in shares of First Solar by 3.5% during the 1st quarter. Hilltop Holdings Inc. now owns 1,608 shares of the solar cell manufacturer’s stock worth $317,000 after buying an additional 54 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in shares of First Solar by 0.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,102 shares of the solar cell manufacturer’s stock worth $3,973,000 after buying an additional 55 shares during the period. Cox Capital Mgt LLC grew its stake in First Solar by 0.4% in the 3rd quarter. Cox Capital Mgt LLC now owns 13,989 shares of the solar cell manufacturer’s stock valued at $2,450,000 after buying an additional 58 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its stake in First Solar by 1.5% in the 3rd quarter. Contravisory Investment Management Inc. now owns 3,907 shares of the solar cell manufacturer’s stock valued at $684,000 after buying an additional 59 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar News Summary

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

• Positive Sentiment: First Solar authorized a share-repurchase program of up to $500 million, which could support earnings per share and signal management’s confidence in the company’s long-term value. The company also added 1.4 gigawatts of U.S. gross bookings at $0.36 per watt. First Solar: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: FSLR participated in a broader solar-sector recovery after steep earnings-driven declines among residential solar companies. The rebound improved sentiment toward solar stocks and helped lift First Solar alongside Enphase Energy and Sunrun. Solar Stocks Rebound; First Solar Climbs
• Neutral Sentiment: BNP Paribas Exane began research coverage on First Solar, potentially increasing institutional attention, although the initial rating and target were not provided. First Solar Research Coverage Started at BNP Paribas Exane
• Negative Sentiment: Multiple firms reduced their FSLR price targets. Barclays cut its target to $230 from $259, while Robert W. Baird lowered its target to $266 from $290 and Guggenheim reduced its target to $297 from $299. Despite the cuts, Baird maintained an “outperform” rating and Guggenheim retained a “buy” rating. Barclays Adjusts Price Target on First Solar
• Negative Sentiment: Third-quarter revenue fell 22.8% year over year to $1.23 billion and missed estimates, while full-year revenue guidance was below Wall Street expectations. Stronger-than-expected adjusted EPS and pricing strength provided some offset, but bookings growth and policy uncertainty remain concerns. FSLR Q3 Deep Dive

First Solar Company Profile

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.