First Solar Inc. (FSLR) Trading Up 2.9%
First Solar Inc. (NASDAQ:FSLR) was up 2.9% on Thursday . The company traded as high as $47.58 and last traded at $47.52, with a volume of 918,977 shares trading hands. The stock had previously closed at $46.20.
A number of equities research analysts have recently weighed in on FSLR shares. Guggenheim started coverage on shares of First Solar in a research report on Wednesday, April 13th. They issued a “buy” rating and a $77.00 price target for the company. Goldman Sachs Group Inc. dropped their price target on shares of First Solar from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 1st. Vetr upgraded shares of First Solar from a “buy” rating to a “strong-buy” rating and set a $80.11 price target for the company in a research report on Tuesday, March 22nd. Mizuho started coverage on shares of First Solar in a research report on Wednesday, March 30th. They issued a “neutral” rating and a $71.00 price target for the company. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $86.00 price target on shares of First Solar in a research report on Sunday, April 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $67.98.
The firm has a 50 day moving average price of $48.36 and a 200-day moving average price of $59.41. The firm has a market cap of $4.84 billion and a P/E ratio of 6.23.
First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, April 27th. The solar cell manufacturer reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.73. The business had revenue of $848 million for the quarter, compared to the consensus estimate of $962.87 million. First Solar’s revenue for the quarter was up 80.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.62) EPS. Equities research analysts expect that First Solar Inc. will post $4.28 earnings per share for the current fiscal year.
In other First Solar news, CEO James Alton Hughes sold 12,884 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $55.43, for a total value of $714,160.12. Following the sale, the chief executive officer now owns 25,587 shares of the company’s stock, valued at approximately $1,418,287.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of large investors have recently made changes to their positions in FSLR. Trexquant Investment LP purchased a new stake in shares of First Solar during the fourth quarter worth about $3,638,000. Adams Natural Resources Fund Inc. purchased a new stake in shares of First Solar during the fourth quarter worth about $4,738,000. SFE Investment Counsel raised its stake in shares of First Solar by 1.5% in the fourth quarter. SFE Investment Counsel now owns 27,430 shares of the solar cell manufacturer’s stock worth $1,810,000 after buying an additional 395 shares during the period. Principal Financial Group Inc. raised its stake in shares of First Solar by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 120,846 shares of the solar cell manufacturer’s stock worth $7,974,000 after buying an additional 11,657 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of First Solar by 150.2% in the fourth quarter. Bank of Montreal Can now owns 326,266 shares of the solar cell manufacturer’s stock worth $21,530,000 after buying an additional 195,849 shares during the period.
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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