First Solar (NASDAQ:FSLR) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage currently has a $65.10 price objective on the solar cell manufacturer’s stock. Vetr‘s price target indicates a potential upside of 6.36% from the company’s previous close.

A number of other analysts also recently commented on FSLR. Zacks Investment Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday, October 2nd. Axiom Securities reiterated a “buy” rating on shares of First Solar in a research report on Wednesday, August 30th. Bank of America reiterated a “buy” rating and issued a $64.00 price objective on shares of First Solar in a research report on Tuesday, August 29th. JMP Securities set a $67.00 price objective on First Solar and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, ValuEngine upgraded First Solar from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $53.91.

Shares of First Solar (NASDAQ FSLR) opened at $61.21 on Monday. First Solar has a 52 week low of $25.56 and a 52 week high of $63.10. The firm has a market capitalization of $5,980.88, a P/E ratio of 14.04 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. During the same quarter in the prior year, the company earned $1.22 EPS. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year. equities analysts forecast that First Solar will post 2.47 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Fiduciary Trust Co. acquired a new stake in First Solar during the 2nd quarter valued at $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in First Solar by 64.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after purchasing an additional 1,716 shares in the last quarter. Garner Asset Management Corp acquired a new stake in First Solar during the 2nd quarter valued at $208,000. World Asset Management Inc acquired a new stake in First Solar during the 2nd quarter valued at $221,000. Finally, Riverhead Capital Management LLC increased its stake in shares of First Solar by 82.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after buying an additional 2,560 shares during the period. 51.21% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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