Roth Capital set a $65.00 price objective on First Solar (NASDAQ:FSLR) in a research report sent to investors on Friday. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.
A number of other research analysts have also recently commented on FSLR. BidaskClub raised First Solar from a sell rating to a hold rating in a research note on Saturday, August 11th. Zacks Investment Research cut First Solar from a hold rating to a sell rating in a research note on Wednesday, September 26th. Vertical Group raised First Solar from a sell rating to a hold rating in a research note on Thursday, October 25th. JMP Securities raised First Solar from an underperform rating to a market perform rating in a research note on Friday, October 26th. They noted that the move was a valuation call. Finally, UBS Group set a $85.00 price objective on First Solar and gave the company a buy rating in a research note on Friday, October 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $67.47.
FSLR traded down $1.12 during trading on Friday, reaching $42.59. The stock had a trading volume of 1,908,828 shares, compared to its average volume of 1,389,032. The stock has a market cap of $4.58 billion, a PE ratio of 16.44, a P/E/G ratio of 1.79 and a beta of 1.32. The company has a quick ratio of 4.14, a current ratio of 4.48 and a debt-to-equity ratio of 0.09. First Solar has a one year low of $36.51 and a one year high of $81.72.
First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.09. The business had revenue of $676.22 million for the quarter, compared to analysts’ expectations of $683.93 million. First Solar had a positive return on equity of 1.29% and a negative net margin of 17.98%. As a group, equities analysts anticipate that First Solar will post 1.51 earnings per share for the current year.
Several large investors have recently made changes to their positions in FSLR. Luminus Management LLC grew its stake in shares of First Solar by 5,435.8% during the second quarter. Luminus Management LLC now owns 1,292,562 shares of the solar cell manufacturer’s stock valued at $68,067,000 after buying an additional 1,269,213 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of First Solar by 98.9% in the second quarter. OppenheimerFunds Inc. now owns 2,014,693 shares of the solar cell manufacturer’s stock worth $106,094,000 after purchasing an additional 1,001,993 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First Solar by 27.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,484,220 shares of the solar cell manufacturer’s stock worth $71,866,000 after purchasing an additional 315,144 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of First Solar in the third quarter worth about $13,242,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of First Solar by 75,478.1% in the second quarter. CIBC Private Wealth Group LLC now owns 200,282 shares of the solar cell manufacturer’s stock worth $10,547,000 after purchasing an additional 200,017 shares during the last quarter. 52.17% of the stock is currently owned by hedge funds and other institutional investors.
About First Solar
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.
Further Reading: Earnings Per Share
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