First Solar (NASDAQ:FSLR) was downgraded by Vetr from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday. They presently have a $65.52 price target on the solar cell manufacturer’s stock. Vetr‘s target price suggests a potential downside of 14.09% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Tuesday, January 2nd. Deutsche Bank upgraded First Solar from a “hold” rating to a “buy” rating and raised their target price for the company from $50.00 to $65.00 in a research report on Friday, September 15th. Goldman Sachs Group restated a “neutral” rating and set a $65.00 target price (up from $50.00) on shares of First Solar in a research report on Thursday, November 30th. Cowen restated an “outperform” rating and set a $77.00 target price (up from $60.00) on shares of First Solar in a research report on Wednesday, December 6th. Finally, Roth Capital set a $60.00 target price on First Solar and gave the company a “buy” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. First Solar currently has a consensus rating of “Hold” and an average target price of $63.13.

First Solar (FSLR) traded up $6.63 during trading hours on Thursday, hitting $76.27. The stock had a trading volume of 6,330,673 shares, compared to its average volume of 2,110,000. First Solar has a 52-week low of $25.56 and a 52-week high of $76.61. 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 firm has a market cap of $7,970.00, a PE ratio of -18.33 and a beta of 2.04.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate 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 last year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 59.5% on a year-over-year basis. equities research analysts expect that First Solar will post 2.52 earnings per share for the current year.

In related news, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction dated 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 directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Raffi Garabedian sold 11,284 shares of First Solar stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $70.06, for a total value of $790,557.04. Following the completion of the sale, the insider now owns 9,227 shares in the company, valued at $646,443.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,858 shares of company stock worth $3,134,015. 0.58% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Intellectus Partners LLC lifted its stake in First Solar by 1.2% in the 2nd quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock worth $696,000 after purchasing an additional 200 shares in the last quarter. Alliancebernstein L.P. lifted its stake in First Solar by 0.8% in the 2nd quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock worth $1,905,000 after purchasing an additional 360 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in First Solar by 6.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 15,910 shares of the solar cell manufacturer’s stock worth $634,000 after purchasing an additional 940 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in First Solar by 1.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 70,126 shares of the solar cell manufacturer’s stock worth $3,218,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in First Solar by 6.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 18,702 shares of the solar cell manufacturer’s stock worth $745,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 50.87% of the company’s stock.

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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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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