Evercore ISI Upgrades First Solar (NASDAQ:FSLR) to Outperform

Evercore ISI upgraded shares of First Solar (NASDAQ:FSLR) from an in-line rating to an outperform rating in a report released on Tuesday, Marketbeat reports. The firm currently has $227.00 target price on the solar cell manufacturer’s stock.

Several other research firms have also weighed in on FSLR. DZ Bank assumed coverage on First Solar in a report on Wednesday, April 17th. They issued a buy rating and a $205.00 target price on the stock. Janney Montgomery Scott began coverage on First Solar in a research note on Friday, April 12th. They set a buy rating and a $236.00 price objective on the stock. Mizuho increased their price objective on First Solar from $188.00 to $196.00 and gave the company a buy rating in a research note on Wednesday, January 3rd. Barclays increased their price objective on First Solar from $224.00 to $227.00 and gave the company an overweight rating in a research note on Friday, April 19th. Finally, Roth Mkm reaffirmed a buy rating and set a $230.00 price objective on shares of First Solar in a research note on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $231.36.

First Solar Stock Up 2.1 %

First Solar stock opened at $178.73 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The stock’s fifty day moving average is $163.40 and its two-hundred day moving average is $157.20.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. Analysts predict that First Solar will post 13.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other First Solar news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total value of $338,975.00. Following the transaction, the chief technology officer now directly owns 12,536 shares in the company, valued at approximately $2,193,800. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 over the last three months. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently made changes to their positions in FSLR. AE Wealth Management LLC grew its position in shares of First Solar by 38.2% in the third quarter. AE Wealth Management LLC now owns 3,439 shares of the solar cell manufacturer’s stock valued at $556,000 after purchasing an additional 951 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in shares of First Solar by 58.4% in the third quarter. Ronald Blue Trust Inc. now owns 358 shares of the solar cell manufacturer’s stock valued at $58,000 after buying an additional 132 shares during the period. IFP Advisors Inc boosted its stake in shares of First Solar by 46.7% in the third quarter. IFP Advisors Inc now owns 729 shares of the solar cell manufacturer’s stock valued at $118,000 after buying an additional 232 shares during the period. HB Wealth Management LLC bought a new stake in shares of First Solar in the third quarter valued at approximately $206,000. Finally, Hartford Investment Management Co. boosted its stake in shares of First Solar by 4.6% in the third quarter. Hartford Investment Management Co. now owns 7,279 shares of the solar cell manufacturer’s stock valued at $1,176,000 after buying an additional 318 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.