Equities research analysts at Credit Suisse Group initiated coverage on shares of First Solar (NASDAQ:FSLR) in a report released on Monday. The brokerage set an “underperform” rating and a $55.00 price target on the solar cell manufacturer’s stock. Credit Suisse Group’s target price suggests a potential downside of 14.36% from the company’s current price.
A number of other equities analysts also recently commented on FSLR. Vetr upgraded First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 target price for the company in a report on Tuesday, October 17th. Robert W. Baird reaffirmed a “hold” rating and issued a $53.00 price target on shares of First Solar in a research note on Friday, October 27th. Needham & Company LLC raised First Solar from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, October 27th. Roth Capital set a $60.00 price target on First Solar and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Zacks Investment Research raised First Solar from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. First Solar has a consensus rating of “Hold” and a consensus price target of $66.60.
First Solar (FSLR) opened at $64.22 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market capitalization of $6,710.00, a P/E ratio of -15.44 and a beta of 2.08. First Solar has a twelve month low of $25.56 and a twelve month high of $76.61.
In other news, insider Raffi Garabedian sold 11,284 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $70.06, for a total value of $790,557.04. Following the sale, the insider now directly owns 9,227 shares of the company’s stock, valued at $646,443.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief operating officer now directly owns 10,424 shares in the company, valued at $707,059.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,858 shares of company stock worth $3,134,015. Insiders own 0.58% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Alliancebernstein L.P. grew its stake in shares of First Solar by 0.8% in the second quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock worth $1,905,000 after acquiring an additional 360 shares during the last quarter. AHL Partners LLP purchased a new stake in shares of First Solar in the second quarter worth $1,124,000. The Manufacturers Life Insurance Company grew its stake in shares of First Solar by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 118,576 shares of the solar cell manufacturer’s stock worth $4,729,000 after acquiring an additional 2,841 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of First Solar by 62.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,306 shares of the solar cell manufacturer’s stock worth $850,000 after acquiring an additional 8,151 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of First Solar in the second quarter worth $491,000. 51.00% of the stock is currently owned by hedge funds and other institutional investors.
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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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