First Solar (FSLR) Stock Price Up 9.5%
First Solar, Inc. (NASDAQ:FSLR) shares rose 9.5% on Friday . The stock traded as high as $76.61 and last traded at $76.27. Approximately 6,341,200 shares changed hands during mid-day trading, an increase of 184% from the average daily volume of 2,234,137 shares. The stock had previously closed at $69.64.
FSLR has been the subject of several research analyst reports. Vetr cut shares of First Solar from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a report on Monday, September 18th. Roth Capital reiterated a “buy” rating and issued a $60.00 price target on shares of First Solar in a report on Tuesday, September 26th. JMP Securities reiterated an “outperform” rating and issued a $50.00 price target (down previously from $67.00) on shares of First Solar in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, October 2nd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $53.00 price target on shares of First Solar in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $63.13.
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 firm has a market capitalization of $7,670.00, a PE ratio of -17.65 and a beta of 2.04.
In other First Solar news, COO Philip Dejong sold 15,304 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raffi Garabedian sold 11,284 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $70.06, for a total transaction of $790,557.04. Following the sale, the insider now directly owns 9,227 shares in the company, valued at $646,443.62. The disclosure for this sale can be found here. In the last three months, insiders sold 46,858 shares of company stock worth $3,134,015. 0.58% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FSLR. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 acquiring an additional 1,716 shares in the last quarter. Garner Asset Management Corp bought a new stake in First Solar during the second quarter worth $208,000. Riverhead Capital Management LLC raised its position in 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 acquiring an additional 2,560 shares in the last quarter. Bluestein R H & Co. bought a new stake in First Solar during the second quarter worth $241,000. Finally, M&T Bank Corp bought a new stake in First Solar during the second quarter worth $244,000. 50.87% of the stock is currently owned by hedge funds and other institutional investors.
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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