BidaskClub downgraded shares of First Solar (NASDAQ:FSLR) from a strong-buy rating to a buy rating in a research report released on Saturday, January 6th.
A number of other analysts have also issued reports on the company. ValuEngine raised First Solar from a hold rating to a buy rating in a research report on Sunday, December 31st. Vetr lowered First Solar from a hold rating to a sell rating and set a $49.20 price objective for the company. in a report on Monday, September 25th. Roth Capital reissued a buy rating and issued a $60.00 price objective on shares of First Solar in a report on Tuesday, September 26th. JMP Securities reissued an outperform rating and issued a $50.00 price objective (down from $67.00) on shares of First Solar in a report on Tuesday, September 26th. Finally, JPMorgan Chase & Co. set a $69.00 price objective on First Solar and gave the company a hold rating in a report on Monday, December 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $63.13.
Shares of First Solar (FSLR) traded down $2.86 during trading on Friday, reaching $73.41. The company had a trading volume of 4,030,236 shares, compared to its average volume of 2,280,000. First Solar has a 52-week low of $25.56 and a 52-week high of $76.61. The firm has a market capitalization of $7,670.00, a PE ratio of -17.65 and a beta of 2.04. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06.
First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share. analysts predict that First Solar will post 2.52 EPS for the current fiscal year.
In other First Solar news, insider Raffi Garabedian sold 11,284 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the sale, the insider now directly owns 9,227 shares of the company’s stock, valued at approximately $646,443.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Philip Dejong sold 15,304 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $67.83, for a total transaction 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 $707,059.92. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock valued at $3,134,015 over the last 90 days. 0.58% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of First Solar by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock worth $261,043,000 after acquiring an additional 243,787 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of First Solar by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock worth $66,825,000 after acquiring an additional 82,634 shares during the last quarter. Key Square Capital Management LLC acquired a new position in shares of First Solar in the third quarter worth $23,621,000. Ecofin Ltd. acquired a new position in shares of First Solar in the second quarter worth $19,485,000. Finally, Lord Abbett & CO. LLC bought a new stake in First Solar in the second quarter worth $15,099,000. 50.87% of the stock is currently 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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