First Solar (FSLR) Stock Rating Lowered by Vetr
First Solar (NASDAQ:FSLR) was downgraded by investment analysts at Vetr from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday. They currently have a $65.52 target price on the solar cell manufacturer’s stock. Vetr‘s target price would indicate a potential downside of 10.75% from the company’s previous close.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of First Solar from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Tuesday, January 2nd. Deutsche Bank raised shares of First Solar from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $65.00 in a research report on Friday, September 15th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $65.00 price target (up from $50.00) on shares of First Solar in a report on Thursday, November 30th. Cowen reaffirmed an “outperform” rating and issued a $77.00 price target (up from $60.00) on shares of First Solar in a report on Wednesday, December 6th. Finally, Roth Capital set a $60.00 price target on shares of First Solar and gave the company a “buy” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. First Solar presently has an average rating of “Hold” and a consensus target price of $63.13.
First Solar (NASDAQ FSLR) traded down $2.86 on Thursday, hitting $73.41. 4,033,500 shares of the stock traded hands, compared to its average volume of 2,434,089. The company has a market cap of $7,670.00, a P/E ratio of -17.65 and a beta of 2.04. First Solar has a one year low of $25.56 and a one year high of $76.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47.
First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company’s revenue was up 59.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 EPS. sell-side analysts expect that First Solar will post 2.52 earnings per share for the current year.
In other First Solar news, COO Philip Dejong sold 15,304 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the completion of the transaction, the chief operating officer now directly owns 10,424 shares of the company’s stock, valued at approximately $707,059.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the transaction, the chief executive officer now directly owns 100,754 shares of the company’s stock, valued at $6,488,557.60. The disclosure for this sale can be found here. Insiders sold a total of 46,858 shares of company stock valued at $3,134,015 over the last ninety days. Company insiders own 0.58% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Fiduciary Trust Co. acquired a new position in First Solar during the 2nd quarter valued at about $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 during the period. Garner Asset Management Corp acquired a new position in First Solar during the 2nd quarter valued at about $208,000. Riverhead Capital Management LLC boosted its stake in First Solar by 82.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after purchasing an additional 2,560 shares during the period. Finally, Bluestein R H & Co. acquired a new position in First Solar during the 2nd quarter valued at about $241,000. 50.88% 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.
To view Vetr’s full report, visit Vetr’s official website.
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