First Solar Inc. (FSLR) Stock Price Down 0.7%
First Solar Inc. (NASDAQ:FSLR) shares traded down 0.7% on Monday . The stock traded as low as $38.32 and last traded at $38.51, with a volume of 1,546,605 shares traded. The stock had previously closed at $38.79.
Several research analysts recently weighed in on the stock. Robert W. Baird restated an “outperform” rating and set a $60.00 price target (down previously from $68.00) on shares of First Solar in a research report on Friday, July 8th. Wells Fargo & Co. assumed coverage on shares of First Solar in a research report on Wednesday, June 1st. They set a “market perform” rating and a $40.25 price target for the company. Morgan Stanley set a $59.00 price objective on shares of First Solar and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $56.00 price objective on shares of First Solar in a research note on Friday, August 5th. Finally, Vetr raised shares of First Solar from a “hold” rating to a “buy” rating and set a $50.01 price objective for the company in a research note on Tuesday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $62.73.
The company’s 50-day moving average price is $45.98 and its 200-day moving average price is $56.16. The company has a market cap of $3.92 billion and a PE ratio of 5.64.
First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.32. The company earned $934.40 million during the quarter, compared to analysts’ expectations of $862.68 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. First Solar’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that First Solar Inc. will post $4.30 earnings per share for the current fiscal year.
In related news, COO Philip Dejong sold 67,251 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $44.28, for a total value of $2,977,874.28. Following the completion of the sale, the chief operating officer now directly owns 45,499 shares in the company, valued at $2,014,695.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Alton Hughes sold 180,448 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $44.43, for a total transaction of $8,017,304.64. Following the completion of the sale, the director now owns 201,577 shares of the company’s stock, valued at $8,956,066.11. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. GSA Capital Partners LLP increased its stake in 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. Russell Frank Co increased its stake in 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. Finally, Trexquant Investment LP acquired a new stake in First Solar during the fourth quarter valued at about $3,638,000.
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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