First Solar (NASDAQ:FSLR) had its price objective lifted by analysts at Morgan Stanley from $63.00 to $64.00 in a note issued to investors on Monday. The brokerage presently has an “equal weight” rating on the solar cell manufacturer’s stock. Morgan Stanley’s price objective indicates a potential downside of 11.94% from the stock’s current price.
FSLR has been the topic of several other research reports. ValuEngine raised shares of First Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. BidaskClub raised shares of First Solar from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Vetr lowered shares of First Solar from a “hold” rating to a “sell” rating and set a $65.52 price objective on the stock. in a research note on Monday, February 5th. JMP Securities boosted their price objective on shares of 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 shares of First Solar from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. First Solar has an average rating of “Buy” and a consensus target price of $70.15.
Shares of NASDAQ FSLR opened at $72.68 on Monday. First Solar has a 1 year low of $26.41 and a 1 year high of $76.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.63 and a current ratio of 5.89. The stock has a market cap of $7,404.17, a P/E ratio of 28.06, a P/E/G ratio of 4.21 and a beta of 1.96.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.06. First Solar had a negative net margin of 5.63% and a positive return on equity of 5.17%. The company had revenue of $339.00 million for the quarter, compared to analysts’ expectations of $459.93 million. During the same quarter in the previous year, the company earned $1.24 earnings per share. First Solar’s quarterly revenue was down 29.4% on a year-over-year basis. equities analysts predict that First Solar will post 1.66 EPS for the current fiscal year.
In other news, CFO Alexander R. Bradley sold 4,325 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $68.12, for a total value of $294,619.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George A. Hambro bought 3,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average price of $62.66 per share, for a total transaction of $187,980.00. Following the purchase, the director now owns 21,934 shares of the company’s stock, valued at approximately $1,374,384.44. The disclosure for this purchase can be found here. In the last quarter, insiders sold 30,457 shares of company stock worth $2,004,033. Insiders own 0.54% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. bought a new position in First Solar during the fourth quarter valued at approximately $101,000. NuWave Investment Management LLC bought a new position in First Solar during the fourth quarter valued at approximately $162,000. Compagnie Lombard Odier SCmA lifted its position in 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 valued at $182,000 after purchasing an additional 1,600 shares during the period. Cigna Investments Inc. New bought a new position in First Solar during the fourth quarter valued at approximately $201,000. Finally, WealthTrust Fairport LLC bought a new position in First Solar during the fourth quarter valued at approximately $203,000. Institutional investors own 53.23% of the company’s stock.
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About First Solar
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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