First Solar, Inc. (FSLR) Stock Rating Upgraded by Vetr Inc.
Vetr upgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a sell rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $64.01 target price on the solar cell manufacturer’s stock.
A number of other equities research analysts have also weighed in on FSLR. Zacks Investment Research lowered shares of First Solar from a hold rating to a sell rating in a research note on Tuesday, July 4th. Morgan Stanley reaffirmed an equal weight rating on shares of First Solar in a research note on Tuesday, July 11th. Cowen and Company set a $40.00 target price on shares of First Solar and gave the company a buy rating in a research note on Monday, July 10th. Axiom Securities raised shares of First Solar from a hold rating to a buy rating and lifted their target price for the company from $45.40 to $51.00 in a research note on Wednesday, July 19th. Finally, Standpoint Research lowered shares of First Solar from a buy rating to a hold rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. First Solar currently has an average rating of Hold and a consensus price target of $47.61.
Shares of First Solar (NASDAQ:FSLR) traded up $2.66 on Tuesday, hitting $59.87. 3,133,745 shares of the stock were exchanged, compared to its average volume of 3,110,000. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 14.18 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. First Solar has a 52-week low of $25.56 and a 52-week high of $61.47.
First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company’s revenue for the quarter was up 59.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 EPS. sell-side analysts expect that First Solar will post 2.53 earnings per share for the current fiscal year.
In other First Solar news, CFO Alexander R. Bradley sold 566 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the completion of the transaction, the chief financial officer now directly owns 963 shares in the company, valued at $46,859.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.
Several large investors have recently modified their holdings of FSLR. OppenheimerFunds Inc. boosted its position in shares of First Solar by 92.8% during the first quarter. OppenheimerFunds Inc. now owns 22,935 shares of the solar cell manufacturer’s stock worth $622,000 after acquiring an additional 11,037 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of First Solar by 171.3% during the first quarter. Principal Financial Group Inc. now owns 314,986 shares of the solar cell manufacturer’s stock worth $8,536,000 after acquiring an additional 198,889 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of First Solar by 356.1% during the first quarter. PNC Financial Services Group Inc. now owns 24,331 shares of the solar cell manufacturer’s stock worth $658,000 after acquiring an additional 18,996 shares during the last quarter. Thrivent Financial For Lutherans bought a new position in shares of First Solar during the first quarter worth $406,000. Finally, Morgan Stanley boosted its position in shares of First Solar by 68.5% during the first quarter. Morgan Stanley now owns 330,709 shares of the solar cell manufacturer’s stock worth $8,962,000 after acquiring an additional 134,447 shares during the last quarter. Hedge funds and other institutional investors own 53.10% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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