Log Out

First Solar (NASDAQ:FSLR) Stock Rating Lowered by Bank of America

Defense World · Feb 4, 2023 01:41

First Solar (NASDAQ:FSLR – Get Rating) was downgraded by analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued on Thursday, Marketbeat reports. They presently have a $195.00 price objective on the solar cell manufacturer's stock, down from their previous price objective of $196.00. Bank of America's target price suggests a potential upside of 15.94% from the company's previous close.

Several other research analysts have also recently commented on FSLR. Piper Sandler boosted their price target on shares of First Solar from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, November 1st. Cowen upped their target price on shares of First Solar from $167.00 to $175.00 in a report on Friday, October 28th. Guggenheim upped their target price on shares of First Solar from $200.00 to $233.00 in a report on Monday, October 31st. TheStreet cut shares of First Solar from a "b-" rating to a "c" rating in a report on Friday, October 28th. Finally, Cowen upped their target price on shares of First Solar from $167.00 to $175.00 in a report on Friday, October 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus target price of $178.88.

Get First Solar alerts:

First Solar Trading Down 0.3 %

NASDAQ FSLR opened at $168.19 on Thursday. The company has a quick ratio of 3.10, a current ratio of 4.09 and a debt-to-equity ratio of 0.04. First Solar has a 52 week low of $59.60 and a 52 week high of $185.28. The stock has a market capitalization of $17.93 billion, a PE ratio of 191.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36. The firm has a 50 day moving average of $163.07 and a two-hundred day moving average of $139.60.

Institutional Trading of First Solar

A number of hedge funds have recently made changes to their positions in FSLR. Convergence Investment Partners LLC boosted its holdings in shares of First Solar by 18.3% during the fourth quarter. Convergence Investment Partners LLC now owns 2,258 shares of the solar cell manufacturer's stock valued at $338,000 after acquiring an additional 350 shares during the period. Larson Financial Group LLC raised its holdings in First Solar by 1,730.0% during the 4th quarter. Larson Financial Group LLC now owns 1,281 shares of the solar cell manufacturer's stock worth $192,000 after buying an additional 1,211 shares during the period. Forsta AP Fonden purchased a new position in First Solar during the 4th quarter valued at about $3,820,000. ProShare Advisors LLC grew its stake in First Solar by 65.0% during the 4th quarter. ProShare Advisors LLC now owns 17,947 shares of the solar cell manufacturer's stock valued at $2,688,000 after acquiring an additional 7,072 shares in the last quarter. Finally, Tobam grew its stake in First Solar by 166.2% during the 4th quarter. Tobam now owns 10,404 shares of the solar cell manufacturer's stock valued at $1,558,000 after acquiring an additional 6,495 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company's stock.

About First Solar

(Get Rating)

First Solar, Inc engages in designing, manufacturing, marketing, and the distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

First Solar (NASDAQ:FSLR) Stock Rating Lowered by Bank of America

First Solar Trading Down 0.3 %

Institutional Trading of First Solar

About First Solar

Further Reading

Risk Disclaimer