Vetr upgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a buy rating to a strong-buy rating in a research note released on Wednesday, October 25th. They currently have $54.35 price target on the solar cell manufacturer’s stock.
Other equities analysts have also recently issued reports about the company. Cowen and Company set a $40.00 price objective on First Solar and gave the company a buy rating in a research report on Monday, July 10th. Axiom Securities reaffirmed a buy rating on shares of First Solar in a research report on Thursday, August 10th. Deutsche Bank AG raised First Solar from a hold rating to a buy rating and upped their price objective for the company from $50.00 to $65.00 in a research report on Friday, September 15th. Zacks Investment Research cut First Solar from a hold rating to a sell rating in a report on Tuesday, July 4th. Finally, Robert W. Baird reissued a hold rating and set a $50.00 price target on shares of First Solar in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $47.61.
First Solar (NASDAQ:FSLR) traded up $1.05 during mid-day trading on Wednesday, hitting $61.59. The company’s stock had a trading volume of 1,952,600 shares, compared to its average volume of 3,461,407. First Solar has a 1 year low of $25.56 and a 1 year high of $62.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. The stock has a market cap of $6,432.03, a P/E ratio of 15.10 and a beta of 1.99.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $859.22 million. During the same period in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 59.5% compared to the same quarter last year. research analysts forecast that First Solar will post 2.47 earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of FSLR. BlackRock Inc. increased its holdings in First Solar by 7,977.6% during the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock valued at $187,601,000 after buying an additional 6,836,843 shares during the period. Schroder Investment Management Group increased its holdings in First Solar by 12,600.7% during the second quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after buying an additional 1,666,064 shares during the period. Key Square Capital Management LLC purchased a new position in First Solar during the third quarter valued at approximately $23,621,000. Ecofin Ltd. purchased a new position in First Solar during the second quarter valued at approximately $19,485,000. Finally, Lord Abbett & CO. LLC purchased a new position in First Solar during the second quarter valued at approximately $15,099,000. 53.22% of the stock is currently owned by institutional investors.
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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