First Solar, Inc. (FSLR) Upgraded by BidaskClub to Strong-Buy
BidaskClub upgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a buy rating to a strong-buy rating in a report released on Monday.
Other equities research analysts have also recently issued research reports about the stock. UBS AG upgraded shares of First Solar from a sell rating to a hold rating in a research report on Tuesday, May 2nd. TheStreet upgraded shares of First Solar from a d+ rating to a c rating in a research report on Wednesday, July 19th. Standpoint Research cut shares of First Solar from a buy rating to a hold rating in a research report on Wednesday, July 19th. JMP Securities upgraded shares of First Solar from an underperform rating to a market perform rating and reduced their price objective for the company from $29.40 to $28.99 in a research report on Thursday, April 27th. They noted that the move was a valuation call. Finally, Robert W. Baird cut shares of First Solar from an outperform rating to a neutral rating and lifted their price objective for the company from $35.00 to $38.00 in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. First Solar has an average rating of Hold and a consensus price target of $43.68.
Shares of First Solar (FSLR) traded up 1.612% during trading on Monday, reaching $45.705. 711,358 shares of the company traded hands. The company’s 50-day moving average price is $39.62 and its 200-day moving average price is $34.34. The company’s market capitalization is $4.77 billion. First Solar has a 52 week low of $25.56 and a 52 week high of $49.50.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.38. The firm had revenue of $891.79 million for the quarter, compared to analysts’ expectations of $699.15 million. First Solar had a negative net margin of 18.14% and a positive return on equity of 6.71%. Equities research analysts forecast that First Solar will post $0.56 EPS for the current fiscal year.
In related news, insider Bryan Robert Schumaker sold 2,747 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $35.00, for a total value of $96,145.00. Following the sale, the insider now owns 1,235 shares in the company, valued at $43,225. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Thomas Presby bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $36.89 per share, for a total transaction of $147,560.00. Following the transaction, the director now owns 17,958 shares of the company’s stock, valued at $662,470.62. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of First Solar during the fourth quarter worth approximately $872,000. Comerica Bank raised its stake in First Solar by 0.3% in the fourth quarter. Comerica Bank now owns 17,850 shares of the solar cell manufacturer’s stock valued at $638,000 after buying an additional 61 shares in the last quarter. Norges Bank bought a new stake in First Solar during the fourth quarter valued at approximately $3,470,000. HighPoint Advisor Group LLC bought a new stake in First Solar during the fourth quarter valued at approximately $766,000. Finally, Teachers Advisors LLC raised its stake in First Solar by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 95,458 shares of the solar cell manufacturer’s stock valued at $3,063,000 after buying an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 60.35% of the company’s stock.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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