Shares of First Solar, Inc. (NASDAQ:FSLR) have earned a consensus rating of “Buy” from the seventeen analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $71.00.
Several equities analysts have weighed in on FSLR shares. ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research report on Tuesday. BidaskClub cut shares of First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on shares of First Solar from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays reiterated a “buy” rating on shares of First Solar in a research report on Friday, August 2nd. Finally, UBS Group lifted their price objective on shares of First Solar to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.
NASDAQ FSLR traded up $1.32 on Thursday, hitting $67.07. 1,817,900 shares of the stock were exchanged, compared to its average volume of 1,285,139. First Solar has a 52-week low of $36.51 and a 52-week high of $69.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.05 and a quick ratio of 3.35. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 49.32, a P/E/G ratio of 1.15 and a beta of 1.28. The company’s 50-day moving average price is $63.03 and its two-hundred day moving average price is $60.70.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.20). First Solar had a return on equity of 0.46% and a net margin of 0.95%. The firm had revenue of $585.00 million for the quarter, compared to analysts’ expectations of $656.80 million. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. The company’s revenue for the quarter was up 89.3% on a year-over-year basis. Equities analysts predict that First Solar will post 2.37 EPS for the current fiscal year.
In other news, COO Philip Dejong sold 2,860 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $65.52, for a total transaction of $187,387.20. Following the transaction, the chief operating officer now directly owns 16,491 shares in the company, valued at approximately $1,080,490.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Georges Antoun sold 8,476 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $61.83, for a total transaction of $524,071.08. Following the transaction, the insider now owns 73,320 shares in the company, valued at $4,533,375.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,665 shares of company stock worth $4,122,700. 0.72% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Meridian Wealth Management LLC purchased a new position in shares of First Solar during the 2nd quarter valued at $25,000. Manchester Capital Management LLC bought a new stake in First Solar in the first quarter worth $27,000. TCG Advisors LP bought a new stake in First Solar in the first quarter worth $32,000. NumerixS Investment Technologies Inc bought a new stake in First Solar in the second quarter worth $79,000. Finally, Destination Wealth Management bought a new stake in First Solar in the second quarter worth $91,000. Institutional investors and hedge funds own 62.22% of the company’s stock.
First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules 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 of PV solar power systems.
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