First Solar (NASDAQ:FSLR) Stock Rating Reaffirmed by Guggenheim

First Solar (NASDAQ:FSLR)‘s stock had its “neutral” rating restated by analysts at Guggenheim in a research report issued on Thursday, January 18th, Marketbeat reports. The analysts noted that the move was a valuation call.

FSLR has been the subject of several other reports. Zacks Investment Research raised First Solar from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Tuesday, January 2nd. Vetr lowered First Solar from a “sell” rating to a “strong sell” rating and set a $65.52 target price on the stock. in a report on Thursday, January 11th. BidaskClub lowered First Solar from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 6th. Robert W. Baird reiterated a “hold” rating and set a $53.00 target price on shares of First Solar in a report on Friday, October 27th. Finally, Roth Capital reiterated a “buy” rating and set a $60.00 target price on shares of First Solar in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.80.

First Solar (NASDAQ FSLR) opened at $62.52 on Thursday. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6,530.00, a PE ratio of -15.03 and a beta of 2.08. First Solar has a 52-week low of $25.56 and a 52-week high of $76.61.

In other news, COO Philip Dejong sold 15,304 shares of the 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 completion of the transaction, the chief operating officer now directly owns 10,424 shares in the company, valued at approximately $707,059.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 20,270 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the transaction, the chief executive officer now directly owns 100,754 shares of the company’s stock, valued at $6,488,557.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,858 shares of company stock worth $3,134,015. Company insiders own 0.58% of the company’s stock.

A number of large investors have recently made changes to their positions in FSLR. OppenheimerFunds Inc. raised its position in First Solar by 254.0% during the 4th quarter. OppenheimerFunds Inc. now owns 1,012,954 shares of the solar cell manufacturer’s stock worth $68,395,000 after purchasing an additional 726,830 shares during the last quarter. Key Square Capital Management LLC bought a new position in shares of First Solar in the 3rd quarter worth about $23,621,000. Ecofin Ltd. bought a new position in shares of First Solar in the 2nd quarter worth about $19,485,000. Lord Abbett & CO. LLC bought a new position in shares of First Solar in the 2nd quarter worth about $15,099,000. Finally, Gotham Asset Management LLC bought a new position in shares of First Solar in the 2nd quarter worth about $14,135,000. 51.00% of the stock is owned by institutional investors and hedge funds.

WARNING: This report was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this report can be read at https://www.dispatchtribunal.com/2018/02/13/first-solars-fslr-neutral-rating-reiterated-at-guggenheim.html.

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)

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply