First Solar (NASDAQ:FSLR) Price Target Lowered to $228.00 at Barclays

First Solar (NASDAQ:FSLR) had its target price decreased by research analysts at Barclays from $279.00 to $228.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s price target points to a potential upside of 16.09% from the company’s current price.

FSLR has been the subject of several other reports. JPMorgan Chase & Co. dropped their target price on shares of First Solar from $303.00 to $256.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Raymond James Financial initiated coverage on shares of First Solar in a research report on Monday, January 12th. They set a “market perform” rating on the stock. Rothschild & Co Redburn lifted their price objective on shares of First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. Finally, Royal Bank Of Canada lowered their price target on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $254.48.

First Solar Price Performance

NASDAQ:FSLR opened at $196.40 on Monday. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.30 and a beta of 1.65. First Solar has a 52-week low of $116.56 and a 52-week high of $285.99. The stock has a fifty day moving average of $241.94 and a 200 day moving average of $236.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.First Solar’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.65 earnings per share. On average, research analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently bought and sold shares of FSLR. Aventura Private Wealth LLC purchased a new stake in shares of First Solar during the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC purchased a new stake in First Solar during the 4th quarter valued at $26,000. Strategic Wealth Investment Group LLC purchased a new stake in First Solar during the 2nd quarter valued at $26,000. Larson Financial Group LLC grew its holdings in First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after acquiring an additional 75 shares during the period. 92.08% of the stock is currently owned by institutional investors.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.