Shares of First Solar Inc. (NASDAQ:FSLR) were down 12.7% on Thursday . The company traded as low as $42.88 and last traded at $42.98, with a volume of 12,695,228 shares traded. The stock had previously closed at $49.24.

A number of analysts have weighed in on FSLR shares. Robert W. Baird reiterated a “buy” rating and set a $68.00 price target on shares of First Solar in a report on Monday, April 25th. Guggenheim started coverage on First Solar in a report on Wednesday, April 13th. They set a “buy” rating and a $77.00 price target for the company. Roth Capital reiterated a “buy” rating and set a $80.00 price target on shares of First Solar in a report on Monday, April 11th. Deutsche Bank AG reiterated a “buy” rating and set a $86.00 price target on shares of First Solar in a report on Sunday, April 10th. Finally, Goldman Sachs Group Inc. cut their price objective on shares of First Solar from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $67.82.

The stock has a market capitalization of $4.47 billion and a PE ratio of 5.75. The company’s 50-day moving average is $47.65 and its 200 day moving average is $57.52.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.32. The firm earned $934.40 million during the quarter, compared to the consensus estimate of $862.68 million. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 EPS. On average, analysts anticipate that First Solar Inc. will post $4.25 earnings per share for the current year.

Several hedge funds and institutional investors have recently modified their holdings of FSLR. Russell Frank Co increased its position in shares of First Solar by 5.0% in the fourth quarter. Russell Frank Co now owns 46,213 shares of the solar cell manufacturer’s stock valued at $3,096,000 after buying an additional 2,214 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of First Solar by 154.9% in the fourth quarter. GSA Capital Partners LLP now owns 17,389 shares of the solar cell manufacturer’s stock valued at $1,148,000 after buying an additional 10,567 shares in the last quarter. Principal Financial Group Inc. increased its position 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 valued at $7,974,000 after buying an additional 11,657 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of First Solar during the fourth quarter valued at about $1,606,000. Finally, Boston Partners purchased a new position in shares of First Solar during the fourth quarter valued at about $2,419,000.

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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