Jefferies Financial Group Lowers First Solar (NASDAQ:FSLR) Price Target to $187.00

First Solar (NASDAQ:FSLR) had its target price lowered by equities researchers at Jefferies Financial Group from $205.00 to $187.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the solar cell manufacturer’s stock. Jefferies Financial Group’s price objective suggests a potential downside of 1.58% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Freedom Capital lowered shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. UBS Group decreased their price target on First Solar from $330.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Zacks Research cut First Solar from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Mizuho reduced their price objective on First Solar from $326.00 to $271.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Wolfe Research lowered First Solar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $247.17.

First Solar Stock Performance

FSLR traded down $5.58 during trading on Tuesday, hitting $190.00. The stock had a trading volume of 470,727 shares, compared to its average volume of 2,347,009. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The firm has a market capitalization of $20.39 billion, a P/E ratio of 13.38, a PEG ratio of 0.35 and a beta of 1.61. The company’s 50-day moving average price is $210.96 and its 200 day moving average price is $235.54. First Solar has a twelve month low of $116.56 and a twelve month high of $285.99.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.38). The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.65 earnings per share. On average, equities research analysts forecast that First Solar will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Caroline Stockdale sold 335 shares of First Solar stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $200.80, for a total transaction of $67,268.00. Following the completion of the sale, the insider directly owned 34,060 shares in the company, valued at $6,839,248. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total value of $1,800,971.64. Following the completion of the transaction, the general counsel directly owned 9,850 shares in the company, valued at $1,966,257. The trade was a 47.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 75,989 shares of company stock worth $14,921,902 over the last quarter. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently bought and sold shares of FSLR. Stance Capital LLC lifted its stake in shares of First Solar by 10,575.0% during the fourth quarter. Stance Capital LLC now owns 5,124 shares of the solar cell manufacturer’s stock valued at $1,339,000 after acquiring an additional 5,076 shares during the period. Forty three Eighteen Advisors LLC bought a new stake in shares of First Solar in the fourth quarter worth about $711,000. Rockefeller Capital Management L.P. increased its holdings in shares of First Solar by 79.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 41,723 shares of the solar cell manufacturer’s stock worth $10,899,000 after acquiring an additional 18,537 shares in the last quarter. Green Ridge Wealth Planning LLC acquired a new position in shares of First Solar during the fourth quarter worth about $234,000. Finally, Mengis Capital Management Inc. boosted its position in shares of First Solar by 26.1% during the fourth quarter. Mengis Capital Management Inc. now owns 7,243 shares of the solar cell manufacturer’s stock worth $1,892,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Company Profile

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.