First Solar, Inc. (FSLR) Given a $57.00 Price Target at Cowen and Company
Cowen and Company set a $57.00 price target on First Solar, Inc. (NASDAQ:FSLR) in a research note issued to investors on Saturday. The firm currently has a buy rating on the solar cell manufacturer’s stock.
Other research analysts have also recently issued reports about the stock. Roth Capital raised shares of First Solar from a neutral rating to a buy rating and set a $40.00 target price on the stock in a research report on Thursday, April 27th. BidaskClub raised shares of First Solar from a hold rating to a buy rating in a research report on Wednesday, June 28th. Vetr cut shares of First Solar from a strong-buy rating to a buy rating and set a $47.53 target price on the stock. in a research report on Monday, July 17th. Axiom Securities raised shares of First Solar from a hold rating to a buy rating and boosted their target price for the stock from $45.40 to $51.00 in a research report on Wednesday, July 19th. Finally, Bank of America Corp reissued a buy rating and set a $54.00 target price (up from $38.00) on shares of First Solar in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of Hold and an average target price of $44.57.
Shares of First Solar (NASDAQ FSLR) opened at 49.65 on Friday. The firm’s market capitalization is $5.18 billion. First Solar has a 12-month low of $25.56 and a 12-month high of $50.21. The firm’s 50-day moving average is $41.35 and its 200-day moving average is $34.90.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business had revenue of $623 million for the quarter, compared to analysts’ expectations of $591.55 million. During the same period in the previous year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. Equities research analysts forecast that First Solar will post $0.61 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “First Solar, Inc. (FSLR) Given a $57.00 Price Target at Cowen and Company” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://www.watchlistnews.com/first-solar-inc-fslr-given-a-57-00-price-target-at-cowen-and-company/1465968.html.
In other news, Director J Thomas Presby acquired 4,000 shares of First Solar stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $36.89 per share, with a total value of $147,560.00. Following the completion of the purchase, the director now owns 17,958 shares of the company’s stock, valued at $662,470.62. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $40.00, for a total transaction of $49,400.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of FSLR. BlackRock Inc. increased its position in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after buying an additional 6,836,843 shares in the last quarter. Wellington Management Group LLP increased its position in shares of First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after buying an additional 679,898 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock worth $74,715,000 after buying an additional 158,896 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of First Solar by 99.1% in the second quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock worth $30,084,000 after buying an additional 375,500 shares in the last quarter. Finally, DnB Asset Management AS increased its position in shares of First Solar by 0.6% in the first quarter. DnB Asset Management AS now owns 518,218 shares of the solar cell manufacturer’s stock worth $14,044,000 after buying an additional 3,300 shares in the last quarter. 60.70% of the stock is 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.
Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.