First Solar, Inc. (NASDAQ:FSLR) Lifted to Buy at ValuEngine
First Solar, Inc. (NASDAQ:FSLR) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.
FSLR has been the subject of a number of other reports. TheStreet upgraded shares of First Solar from a “d+” rating to a “c” rating in a research report on Wednesday, July 19th. BidaskClub lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Axiom Securities upgraded shares of First Solar from a “sell” rating to a “hold” rating and cut their target price for the stock from $30.32 to $21.00 in a research report on Wednesday, May 3rd. Deutsche Bank AG set a $47.00 target price on shares of First Solar and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Finally, UBS Group AG upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $43.35.
First Solar (FSLR) opened at 46.75 on Friday. The company’s market capitalization is $4.88 billion. The stock has a 50 day moving average price of $43.67 and a 200-day moving average price of $35.55. First Solar has a 52 week low of $25.56 and a 52 week high of $50.21.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.60. The firm had revenue of $623 million during the quarter, compared to analyst estimates of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. On average, equities analysts predict that First Solar will post $2.11 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This news story was reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.watchlistnews.com/first-solar-inc-nasdaqfslr-lifted-to-buy-at-valuengine/1471518.html.
In other First Solar news, CFO Alexander R. Bradley sold 566 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the sale, the chief financial officer now owns 963 shares in the company, valued at $46,859.58. The sale was disclosed in a filing with the SEC, which is available 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 stock was 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. In the last 90 days, insiders sold 95,909 shares of company stock worth $4,705,246. Corporate insiders own 0.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Personal Capital Advisors Corp boosted its stake in shares of First Solar by 33.4% in the first quarter. Personal Capital Advisors Corp now owns 331,437 shares of the solar cell manufacturer’s stock worth $9,290,000 after buying an additional 82,983 shares during the period. Norges Bank acquired a new stake in shares of First Solar during the fourth quarter worth $3,470,000. Bank of America Corp DE boosted its stake in shares of First Solar by 67.2% in the first quarter. Bank of America Corp DE now owns 273,426 shares of the solar cell manufacturer’s stock worth $7,409,000 after buying an additional 109,938 shares during the period. Baird Financial Group Inc. boosted its stake in shares of First Solar by 86.9% in the first quarter. Baird Financial Group Inc. now owns 12,890 shares of the solar cell manufacturer’s stock worth $349,000 after buying an additional 5,995 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of First Solar by 13.2% in the first quarter. HighTower Advisors LLC now owns 22,791 shares of the solar cell manufacturer’s stock worth $617,000 after buying an additional 2,662 shares during the period. Institutional investors and hedge funds own 60.75% of the company’s stock.
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 ValuEngine’s full report, visit ValuEngine’s official website.
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.