First Solar (NASDAQ:FSLR) Upgraded at Jefferies Financial Group

First Solar (NASDAQ:FSLR) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $192.00 price objective on the solar cell manufacturer’s stock, up from their prior price objective of $157.00. Jefferies Financial Group’s price objective suggests a potential upside of 14.40% from the company’s previous close.

FSLR has been the topic of a number of other reports. Royal Bank of Canada lowered their price target on shares of First Solar from $237.00 to $214.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Piper Sandler decreased their target price on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Morgan Stanley set a $223.00 price target on shares of First Solar and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Wall Street Zen downgraded First Solar from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Finally, Guggenheim lowered their price objective on First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.19.

First Solar Stock Down 0.0%

Shares of NASDAQ FSLR opened at $167.83 on Wednesday. First Solar has a 12-month low of $116.56 and a 12-month high of $304.52. The stock’s fifty day simple moving average is $146.68 and its two-hundred day simple moving average is $159.05. The stock has a market capitalization of $18.00 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. During the same quarter last year, the company earned $2.20 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Koralewski sold 2,951 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider now owns 11,369 shares of the company’s stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the sale, the insider now directly owns 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,948 shares of company stock valued at $2,704,927. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Garde Capital Inc. acquired a new stake in shares of First Solar during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in First Solar during the first quarter valued at $25,000. Larson Financial Group LLC increased its holdings in First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after buying an additional 219 shares in the last quarter. Colonial Trust Advisors acquired a new position in shares of First Solar in the first quarter worth about $32,000. Finally, Abound Financial LLC purchased a new stake in shares of First Solar during the 1st quarter worth about $45,000. 92.08% of the stock is owned by institutional investors and hedge funds.

About First Solar

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.