First Solar Inc. (FSLR) Shares Down 0.7%
First Solar Inc. (NASDAQ:FSLR) was down 0.7% during mid-day trading on Monday . The company traded as low as $38.32 and last traded at $38.51, with a volume of 1,546,605 shares trading hands. The stock had previously closed at $38.79.
FSLR has been the topic of several recent analyst reports. Mizuho lowered their price target on First Solar from $67.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 10th. Vetr raised First Solar from a “hold” rating to a “buy” rating and set a $50.01 price target on the stock in a research report on Tuesday, July 26th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $67.00 price target on shares of First Solar in a research report on Thursday, August 4th. Morgan Stanley set a $59.00 price target on First Solar and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 price target on shares of First Solar in a research report on Thursday, August 4th. Thirteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $62.36.
The firm has a market capitalization of $3.80 billion and a P/E ratio of 5.46. The company has a 50-day moving average price of $45.79 and a 200-day moving average price of $55.93.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.32. The business had revenue of $934.40 million for the quarter, compared to analysts’ expectations of $862.68 million. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. Equities analysts expect that First Solar Inc. will post $4.30 earnings per share for the current fiscal year.
In related news, EVP Christopher Bueter sold 29,384 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $44.23, for a total transaction of $1,299,654.32. Following the completion of the sale, the executive vice president now directly owns 17,718 shares of the company’s stock, valued at $783,667.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Philip Dejong sold 67,251 shares of the 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 sale, the chief operating officer now directly owns 45,499 shares of the company’s stock, valued at $2,014,695.72. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in First Solar stock. Trexquant Investment LP purchased a new position in shares of First Solar Inc. (NASDAQ:FSLR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 55,123 shares of the solar cell manufacturer’s stock, valued at approximately $3,638,000. Trexquant Investment LP owned 0.05% of First Solar as of its most recent SEC filing.
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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