BidaskClub downgraded shares of First Solar (NASDAQ:FSLR) from a strong-buy rating to a buy rating in a report published on Saturday, January 6th.
A number of other analysts also recently weighed in on the stock. Vetr cut shares of First Solar from a hold rating to a sell rating and set a $66.83 price objective for the company. in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded shares of First Solar from a hold rating to a buy rating and set a $76.00 price target for the company in a research report on Tuesday, January 2nd. ValuEngine upgraded shares of First Solar from a hold rating to a buy rating in a research report on Sunday, December 31st. Roth Capital set a $80.00 price target on shares of First Solar and gave the company a buy rating in a research report on Monday, December 25th. Finally, JPMorgan Chase & Co. set a $69.00 price target on shares of First Solar and gave the company a hold rating in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. First Solar presently has a consensus rating of Hold and a consensus price target of $63.13.
Shares of First Solar (NASDAQ:FSLR) traded down $2.86 during mid-day trading on Friday, hitting $73.41. 4,033,500 shares of the company traded hands, compared to its average volume of 2,434,089. The company has a market cap of $7,600.00, a P/E ratio of -17.65 and a beta of 2.04. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar has a 1-year low of $25.56 and a 1-year high of $76.61.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 59.5% compared to the same quarter last year. equities research analysts anticipate that First Solar will post 2.52 earnings per share for the current fiscal year.
In related news, insider Raffi Garabedian sold 11,284 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the completion of the sale, the insider now owns 9,227 shares in the company, valued at $646,443.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 20,270 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the sale, the chief executive officer now owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,858 shares of company stock worth $3,134,015. 0.58% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fiduciary Trust Co. purchased a new position in shares of First Solar in the second quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First Solar by 64.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after purchasing an additional 1,716 shares in the last quarter. Garner Asset Management Corp purchased a new position in shares of First Solar in the second quarter worth about $208,000. Riverhead Capital Management LLC increased its stake in shares of First Solar by 82.6% in the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock worth $226,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Bluestein R H & Co. purchased a new position in shares of First Solar in the second quarter worth about $241,000. Institutional investors and hedge funds own 50.88% of the company’s stock.
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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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