Morgan Stanley Lowers First Solar (NASDAQ:FSLR) Price Target to $230.00

First Solar (NASDAQ:FSLR) had its target price reduced by Morgan Stanley from $275.00 to $230.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. Morgan Stanley’s price target would indicate a potential upside of 17.11% from the stock’s current price.

A number of other analysts have also issued reports on the company. Seaport Research Partners lifted their price target on First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada dropped their target price on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. BMO Capital Markets set a $263.00 price target on shares of First Solar in a research report on Thursday, January 29th. Finally, Freedom Capital cut First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday. Twenty investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.48.

First Solar Stock Down 0.4%

FSLR stock opened at $196.40 on Monday. First Solar has a 52 week low of $116.56 and a 52 week high of $285.99. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $241.94 and a 200-day simple moving average of $236.70. The stock has a market capitalization of $21.08 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.30 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last issued its quarterly 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). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the business posted $3.65 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that First Solar will post 13.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

Hedge funds have recently added to or reduced their stakes in the business. Aventura Private Wealth LLC purchased a new position in First Solar in the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC purchased a new position in First Solar in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC raised its stake in First Solar by 117.0% during 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 in the last quarter. Elyxium Wealth LLC purchased a new stake in shares of First Solar in the 4th quarter valued at about $30,000. Finally, MV Capital Management Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $30,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.