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.
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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.
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