UBS assumed coverage on shares of First Solar (NASDAQ:FSLR) in a research report issued on Thursday, March 15th, www.benzinga.com reports. The brokerage set a “buy” rating and a $81.00 price target on the solar cell manufacturer’s stock. UBS’s price objective would suggest a potential upside of 16.21% from the company’s previous close.
A number of other equities research analysts have also commented on the company. Goldman Sachs restated a “neutral” rating and set a $65.00 price objective (up from $50.00) on shares of First Solar in a research report on Thursday, November 30th. BidaskClub upgraded First Solar from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 9th. Vetr downgraded First Solar from a “hold” rating to a “sell” rating and set a $65.52 price target for the company. in a research note on Monday, February 5th. JMP Securities raised their price target on First Solar to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Zacks Investment Research raised First Solar from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $70.53.
NASDAQ FSLR traded down $1.94 during trading hours on Thursday, hitting $69.70. The company had a trading volume of 1,266,894 shares, compared to its average volume of 1,309,790. The firm has a market capitalization of $7,301.49, a PE ratio of 26.91, a P/E/G ratio of 4.15 and a beta of 1.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.89 and a quick ratio of 5.63. First Solar has a fifty-two week low of $26.41 and a fifty-two week high of $76.61.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The company had revenue of $339.00 million for the quarter, compared to analyst estimates of $459.93 million. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The company’s quarterly revenue was down 29.4% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. equities research analysts expect that First Solar will post 1.66 earnings per share for the current fiscal year.
In other First Solar news, Director George A. Hambro acquired 3,000 shares of First Solar stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $62.66 per share, with a total value of $187,980.00. Following the completion of the purchase, the director now owns 21,934 shares in the company, valued at $1,374,384.44. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 4,325 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $68.12, for a total value of $294,619.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,457 shares of company stock worth $2,004,033. 0.58% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new stake in shares of First Solar during the fourth quarter worth $101,000. NuWave Investment Management LLC bought a new stake in shares of First Solar during the fourth quarter worth $162,000. Compagnie Lombard Odier SCmA raised its position in shares of First Solar by 145.5% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 2,700 shares of the solar cell manufacturer’s stock worth $182,000 after acquiring an additional 1,600 shares during the last quarter. Cigna Investments Inc. New bought a new stake in shares of First Solar during the fourth quarter worth $201,000. Finally, WealthTrust Fairport LLC bought a new stake in shares of First Solar during the fourth quarter worth $203,000. Institutional investors own 53.36% 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.
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