Several other analysts also recently weighed in on FSLR. Vetr downgraded First Solar from a hold rating to a sell rating and set a $49.20 target price on the stock. in a research note on Monday, September 25th. Roth Capital reaffirmed a buy rating and set a $60.00 target price on shares of First Solar in a research note on Tuesday, September 26th. JMP Securities reaffirmed an outperform rating and set a $50.00 target price (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 target price on the stock in a research note on Monday, October 2nd. Finally, Robert W. Baird reaffirmed a hold rating and set a $53.00 target price 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 given a buy rating to the stock. First Solar has an average rating of Hold and an average target price of $63.13.
Shares of First Solar (NASDAQ FSLR) traded down $1.06 during trading on Thursday, reaching $70.03. The company’s stock had a trading volume of 1,430,000 shares, compared to its average volume of 2,270,000. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. The company has a market cap of $7,200.00, a P/E ratio of -16.83 and a beta of 2.04. First Solar has a 52-week low of $25.56 and a 52-week high of $76.61.
First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm’s revenue for the quarter was up 59.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. equities research analysts predict that First Solar will post 2.52 earnings per share for the current year.
In other news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Philip Dejong sold 15,304 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $67.83, for a total value of $1,038,070.32. Following the completion of the sale, the chief operating officer now directly owns 10,424 shares in the company, valued at approximately $707,059.92. The disclosure for this sale can be found here. Insiders sold a total of 46,858 shares of company stock worth $3,134,015 in the last three months. Company insiders own 0.58% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of First Solar by 64.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after purchasing an additional 1,716 shares during the period. Garner Asset Management Corp acquired a new stake in shares of First Solar during the second quarter worth $208,000. Riverhead Capital Management LLC raised its position in shares of First Solar by 82.6% during the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock worth $226,000 after purchasing an additional 2,560 shares during the period. Community Financial Services Group LLC acquired a new stake in shares of First Solar during the fourth quarter worth $239,000. Finally, Bluestein R H & Co. acquired a new stake in shares of First Solar during the second quarter worth $241,000. 50.88% 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.
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