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.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The business’s revenue was up 59.5% compared to the same quarter last year. equities analysts forecast that First Solar will post 2.52 EPS for the current fiscal year.

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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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