TheStreet lowered shares of First Solar (NASDAQ:FSLR) from a b- rating to a c rating in a research note issued to investors on Monday morning.

Other equities research analysts have also recently issued reports about the company. BidaskClub raised First Solar from a hold rating to a buy rating in a research note on Friday, February 16th. Zacks Investment Research cut First Solar from a buy rating to a hold rating in a research note on Thursday, May 3rd. Vertical Group cut First Solar from a buy rating to a sell rating and set a $42.00 price objective for the company. in a research note on Wednesday, June 6th. JPMorgan Chase & Co. raised First Solar from a neutral rating to an overweight rating and set a $85.00 price objective for the company in a research note on Thursday, May 10th. Finally, ValuEngine cut First Solar from a strong-buy rating to a buy rating in a research note on Wednesday, June 6th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $68.50.

First Solar opened at $53.85 on Monday, according to Marketbeat Ratings. The firm has a market capitalization of $5.43 billion, a PE ratio of 20.79, a PEG ratio of 2.93 and a beta of 1.78. First Solar has a 52 week low of $35.33 and a 52 week high of $81.72. The company has a quick ratio of 6.49, a current ratio of 6.81 and a debt-to-equity ratio of 0.08.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 26th. The solar cell manufacturer reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.86. The company had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $421.47 million. First Solar had a positive return on equity of 6.26% and a negative net margin of 3.51%. The business’s revenue for the quarter was down 36.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. equities research analysts expect that First Solar will post 1.77 EPS for the current year.

In other First Solar news, insider Bryan Robert Schumaker sold 848 shares of the business’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $80.00, for a total value of $67,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 3,142 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $70.63, for a total value of $221,919.46. Following the completion of the transaction, the insider now directly owns 77,535 shares of the company’s stock, valued at $5,476,297.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,531 shares of company stock valued at $1,681,977. Insiders own 0.54% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its holdings in shares of First Solar by 2.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 25,320 shares of the solar cell manufacturer’s stock valued at $1,797,000 after purchasing an additional 690 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of First Solar by 3.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 310,612 shares of the solar cell manufacturer’s stock valued at $22,048,000 after purchasing an additional 11,022 shares in the last quarter. Lido Advisors LLC bought a new stake in shares of First Solar in the first quarter valued at about $234,000. Ontario Teachers Pension Plan Board lifted its holdings in shares of First Solar by 1,357.9% in the first quarter. Ontario Teachers Pension Plan Board now owns 73,375 shares of the solar cell manufacturer’s stock valued at $5,208,000 after purchasing an additional 68,342 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in shares of First Solar by 7.7% in the fourth quarter. Profund Advisors LLC now owns 11,812 shares of the solar cell manufacturer’s stock valued at $798,000 after purchasing an additional 848 shares in the last quarter. Institutional investors own 53.21% of the company’s stock.

About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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