Several other research firms also recently weighed in on FSLR. Robert W. Baird reissued a buy rating on shares of First Solar in a report on Monday, September 9th. UBS Group upped their price objective on First Solar to $80.00 and gave the company a buy rating in a research note on Friday, August 2nd. BidaskClub downgraded First Solar from a hold rating to a sell rating in a research note on Tuesday, September 10th. Barclays reaffirmed a buy rating on shares of First Solar in a research note on Friday, August 2nd. Finally, Roth Capital set a $75.00 price objective on First Solar and gave the company a buy rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $70.11.
First Solar stock opened at $66.70 on Tuesday. First Solar has a fifty-two week low of $36.51 and a fifty-two week high of $69.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.05. The company has a market capitalization of $6.93 billion, a P/E ratio of 49.04, a PEG ratio of 1.19 and a beta of 1.28. The stock has a 50-day simple moving average of $63.05 and a 200-day simple moving average of $60.77.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). First Solar had a net margin of 0.95% and a return on equity of 0.46%. The firm had revenue of $585.00 million during the quarter, compared to analysts’ expectations of $656.80 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The firm’s revenue for the quarter was up 89.3% on a year-over-year basis. As a group, analysts forecast that First Solar will post 2.37 earnings per share for the current year.
In other First Solar news, insider Georges Antoun sold 8,476 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 approximately $4,533,375.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 34,964 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $61.43, for a total value of $2,147,838.52. Following the transaction, the chief executive officer now owns 145,285 shares in the company, valued at approximately $8,924,857.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,665 shares of company stock valued at $4,122,700. 0.72% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC acquired a new position in First Solar during the 2nd quarter worth approximately $25,000. Manchester Capital Management LLC acquired a new position in First Solar during the 1st quarter worth approximately $27,000. TCG Advisors LP acquired a new position in First Solar during the 1st quarter worth approximately $32,000. NumerixS Investment Technologies Inc acquired a new position in First Solar during the 2nd quarter worth approximately $79,000. Finally, Destination Wealth Management acquired a new position in First Solar during the 2nd quarter worth approximately $91,000. Institutional investors 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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