First Solar (FSLR) Cut to Buy at BidaskClub

BidaskClub lowered shares of First Solar (NASDAQ:FSLR) from a strong-buy rating to a buy rating in a report issued on Saturday, January 6th.

Several other brokerages have also weighed in on FSLR. Vetr lowered 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 First Solar from a hold rating to a strong-buy rating and set a $81.00 price objective for the company in a research report on Tuesday, December 12th. Robert W. Baird upgraded First Solar from a neutral rating to an outperform rating and increased their price objective for the stock from $69.00 to $82.00 in a research report on Monday, December 11th. Roth Capital set a $80.00 price target on First Solar and gave the stock a buy rating in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. set a $69.00 price target on First Solar and gave the stock a hold rating in a research report on Monday, December 18th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $63.13.

Shares of First Solar (FSLR) traded up $0.08 during trading on Friday, reaching $67.17. The company had a trading volume of 989,065 shares, compared to its average volume of 2,050,000. The stock has a market capitalization of $7,010.00, a price-to-earnings ratio of -16.15 and a beta of 2.04. First Solar has a 52 week low of $25.56 and a 52 week high of $76.61. 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 (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. equities research analysts predict that First Solar will post 2.52 earnings per share for the current fiscal year.

In other First Solar news, COO Philip Dejong sold 15,304 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $67.83, for a total value of $1,038,070.32. Following the sale, the chief operating officer now directly owns 10,424 shares in the company, valued at $707,059.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Raffi Garabedian sold 11,284 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $70.06, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,858 shares of company stock worth $3,134,015. 0.58% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Fiduciary Trust Co. acquired a new stake in First Solar in the second quarter valued at $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of First Solar by 64.3% during 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. Cigna Investments Inc. New acquired a new stake in shares of First Solar during the fourth quarter worth about $201,000. Eagle Ridge Investment Management acquired a new stake in shares of First Solar during the fourth quarter worth about $204,000. Finally, Garner Asset Management Corp acquired a new stake in shares of First Solar during the second quarter worth about $208,000. Institutional investors own 50.59% of the company’s stock.

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First Solar Company Profile

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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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