Vertical Group started coverage on shares of First Solar (NASDAQ:FSLR) in a report issued on Thursday. The firm issued a buy rating on the solar cell manufacturer’s stock.
Several other equities analysts have also recently commented on FSLR. Deutsche Bank upgraded shares of First Solar from a hold rating to a buy rating and boosted their price target for the company from $50.00 to $65.00 in a report on Friday, September 15th. Vetr cut shares of First Solar from a buy rating to a hold rating and set a $48.80 price target on the stock. in a report on Monday, September 18th. Roth Capital restated a buy rating and set a $60.00 price target on shares of First Solar in a report on Tuesday, September 26th. JMP Securities reaffirmed an outperform rating and issued a $50.00 price objective (down previously from $67.00) on shares of First Solar in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of First Solar from a hold rating to a buy rating and set a $51.00 price objective for the company in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. First Solar has a consensus rating of Hold and an average target price of $63.13.
First Solar (NASDAQ FSLR) traded down $2.86 during trading on Thursday, hitting $73.41. 4,033,500 shares of the stock traded hands, compared to its average volume of 2,434,089. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $76.61. The stock has a market cap of $7,670.00, a PE ratio of -17.65 and a beta of 2.04.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. During the same period in the previous year, the company posted $1.22 EPS. First Solar’s revenue was up 59.5% on a year-over-year basis. research analysts anticipate that First Solar will post 2.52 earnings per share for the current year.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the transaction, the chief executive officer now owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Philip Dejong sold 15,304 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the transaction, the chief operating officer now directly owns 10,424 shares of the company’s stock, valued at approximately $707,059.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,858 shares of company stock valued at $3,134,015. 0.58% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Fiduciary Trust Co. acquired a new position in First Solar during the 2nd quarter worth $128,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Solar by 64.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 1,716 shares during the last quarter. Garner Asset Management Corp acquired a new position in First Solar during the 2nd quarter worth $208,000. Riverhead Capital Management LLC lifted its position in First Solar by 82.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock worth $226,000 after acquiring an additional 2,560 shares during the last quarter. Finally, Bluestein R H & Co. acquired a new position in First Solar during the 2nd quarter worth $241,000. 50.88% of the stock is owned by hedge funds and other institutional investors.
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About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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