BidaskClub Downgrades First Solar (FSLR) to Buy
BidaskClub downgraded shares of First Solar (NASDAQ:FSLR) from a strong-buy rating to a buy rating in a report issued on Saturday morning.
A number of other research analysts have also recently issued reports on the company. Goldman Sachs Group reissued a neutral rating and set a $65.00 price objective (up from $50.00) on shares of First Solar in a report on Thursday, November 30th. Vetr raised First Solar from a buy rating to a strong-buy rating and set a $53.04 price objective for the company in a report on Wednesday, October 11th. Deutsche Bank raised First Solar from a hold rating to a buy rating and lifted their price objective for the company from $50.00 to $65.00 in a report on Friday, September 15th. Needham & Company LLC raised First Solar from a hold rating to a buy rating and set a $60.00 price objective for the company in a report on Friday, October 27th. Finally, Zacks Investment Research raised First Solar from a hold rating to a buy rating and set a $51.00 price objective for the company in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $63.22.
Shares of First Solar (NASDAQ:FSLR) opened at $70.02 on Friday. First Solar has a 52 week low of $25.56 and a 52 week high of $71.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The firm has a market cap of $7,310.00, a price-to-earnings ratio of -16.83 and a beta of 2.04.
In related news, COO Philip Dejong sold 15,304 shares of First Solar stock in a transaction dated 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 transaction, the chief operating officer now directly owns 10,424 shares of the company’s stock, valued at $707,059.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raffi Garabedian sold 11,284 shares of First Solar stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $70.06, for a total value of $790,557.04. Following the completion of the transaction, the insider now directly owns 9,227 shares of the company’s stock, valued at $646,443.62. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock valued at $3,134,015 over the last ninety days. 0.58% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new stake in First Solar during the 2nd quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in First Solar by 64.3% during the 3rd 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 last quarter. Garner Asset Management Corp bought a new stake in First Solar during the 2nd quarter worth about $208,000. Riverhead Capital Management LLC raised its holdings in First Solar by 82.6% during the 2nd 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 last quarter. Finally, B. Riley Financial Inc. bought a new stake in First Solar during the 3rd quarter worth about $265,000. 50.87% of the stock is owned by hedge funds and other institutional investors.
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First Solar Company Profile
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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