First Solar (FSLR) Receives Neutral Rating from Guggenheim
Guggenheim reaffirmed their neutral rating on shares of First Solar (NASDAQ:FSLR) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The analysts noted that the move was a valuation call.
Several other research analysts also recently commented on FSLR. Vetr downgraded First Solar from a hold rating to a sell rating and set a $49.20 price objective on the stock. in a research note on Monday, September 25th. Roth Capital reaffirmed a buy rating and issued a $60.00 price objective on shares of First Solar in a research note on Tuesday, September 26th. JMP Securities reaffirmed an outperform rating and issued a $50.00 price objective (down previously from $67.00) on shares of First Solar in a research note on Tuesday, September 26th. Zacks Investment Research raised First Solar from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research note on Monday, October 2nd. Finally, Robert W. Baird reaffirmed a hold rating and issued a $53.00 price objective on shares of First Solar in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $63.13.
Shares of First Solar (FSLR) traded down $1.06 during trading hours on Thursday, reaching $70.03. The company’s stock had a trading volume of 1,430,107 shares, compared to its average volume of 1,616,284. The stock has a market capitalization of $7,313.44, a PE ratio of -15.99 and a beta of 2.04. 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 has a fifty-two week low of $25.56 and a fifty-two week high of $76.61.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the sale, the chief executive officer now owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Raffi Garabedian sold 11,284 shares of First Solar stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $70.06, for a total value of $790,557.04. Following the completion of the sale, the insider now directly owns 9,227 shares in the company, valued at approximately $646,443.62. The disclosure for this sale can be found here. Insiders have sold a total of 46,858 shares of company stock worth $3,134,015 in the last three months. 0.58% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Personal Capital Advisors Corp increased its stake in First Solar by 4.0% in the 4th quarter. Personal Capital Advisors Corp now owns 383,309 shares of the solar cell manufacturer’s stock worth $25,881,000 after acquiring an additional 14,805 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in First Solar in the 4th quarter worth approximately $324,000. Community Financial Services Group LLC bought a new stake in First Solar in the 4th quarter worth approximately $239,000. CAPROCK Group Inc. bought a new stake in First Solar in the 4th quarter worth approximately $259,000. Finally, Schwab Charles Investment Management Inc. increased its stake in First Solar by 2.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 299,590 shares of the solar cell manufacturer’s stock worth $20,229,000 after acquiring an additional 7,197 shares during the last quarter. 50.88% of the stock is currently owned by institutional investors and hedge funds.
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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.
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