First Solar, Inc. (NASDAQ:FSLR) Price Target Raised to $55.00 at Roth Capital
First Solar, Inc. (NASDAQ:FSLR) had its target price boosted by Roth Capital from $40.00 to $55.00 in a research report released on Wednesday. Roth Capital currently has a buy rating on the solar cell manufacturer’s stock.
Other equities analysts have also recently issued research reports about the company. TheStreet upgraded First Solar from a d+ rating to a c rating in a report on Wednesday, July 19th. Axiom Securities upgraded First Solar from a sell rating to a hold rating and decreased their price target for the stock from $30.32 to $21.00 in a report on Wednesday, May 3rd. Deutsche Bank AG set a $47.00 price target on First Solar and gave the stock a hold rating in a report on Wednesday, July 19th. UBS AG upgraded First Solar from a sell rating to a hold rating in a report on Tuesday, May 2nd. Finally, Morgan Stanley restated an equal weight rating on shares of First Solar in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $44.42.
First Solar (NASDAQ FSLR) traded down 0.02% during midday trading on Wednesday, reaching $45.45. 932,368 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 firm’s market capitalization is $4.74 billion. First Solar has a 12 month low of $25.56 and a 12 month high of $49.50.
First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.38. The firm had revenue of $891.79 million during the quarter, compared to the consensus estimate of $699.15 million. First Solar had a negative net margin of 18.14% and a positive return on equity of 6.71%. On average, equities analysts anticipate that First Solar will post $0.59 earnings per share for the current year.
In related news, Director J Thomas Presby bought 4,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average cost of $36.89 per share, with a total value of $147,560.00. Following the transaction, the director now directly owns 17,958 shares in the company, valued at $662,470.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bryan Robert Schumaker sold 1,235 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $49,400.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of First Solar during the fourth quarter valued at about $872,000. Comerica Bank raised its position in shares of 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 position in shares of First Solar during the fourth quarter valued at about $3,470,000. HighPoint Advisor Group LLC bought a new position in shares of First Solar during the fourth quarter valued at about $766,000. Finally, Teachers Advisors LLC raised its position in shares of 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. 60.35% of the stock is owned by institutional investors and hedge funds.
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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