First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “outperform” rating restated by equities research analysts at Cowen and Company in a report released on Tuesday. They currently have a $57.00 price target on the solar cell manufacturer’s stock, up from their prior price target of $52.00. Cowen and Company’s target price would suggest a potential upside of 16.64% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. BidaskClub upgraded First Solar from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. TheStreet upgraded First Solar from a “d+” rating to a “c” rating in a research report on Wednesday, July 19th. Deutsche Bank AG set a $47.00 target price on First Solar and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Standpoint Research cut First Solar from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Axiom Securities upgraded 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. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $44.60.

First Solar (NASDAQ:FSLR) traded up 9.06% during mid-day trading on Tuesday, reaching $48.87. The company had a trading volume of 9,311,230 shares. The stock has a 50 day moving average price of $40.61 and a 200-day moving average price of $34.69. The stock’s market capitalization is $5.10 billion. First Solar has a 12-month low of $25.56 and a 12-month high of $49.75.

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 the Thomson Reuters’ consensus estimate of $0.04 by $0.60. First Solar had a positive return on equity of 6.38% and a negative net margin of 18.80%. The business had revenue of $623 million during the quarter, compared to analysts’ expectations of $591.55 million. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue was down 38.7% on a year-over-year basis. Equities analysts anticipate that First Solar will post $0.61 EPS for the current fiscal year.

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In other news, insider Bryan Robert Schumaker sold 2,747 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $35.00, for a total value of $96,145.00. Following the completion of the transaction, the insider now owns 1,235 shares of the company’s stock, valued at approximately $43,225. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Thomas Presby bought 4,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was purchased at an average cost of $36.89 per share, with a total value of $147,560.00. Following the transaction, the director now directly owns 17,958 shares in the company, valued at approximately $662,470.62. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised 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 valued at $187,601,000 after buying an additional 6,836,843 shares in the last quarter. Wellington Management Group LLP raised 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 valued at $82,356,000 after buying an additional 679,898 shares in the last quarter. State Treasurer State of Michigan raised 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 valued at $30,084,000 after buying an additional 375,500 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of First Solar by 171.3% in the first quarter. Principal Financial Group Inc. now owns 314,986 shares of the solar cell manufacturer’s stock valued at $8,536,000 after buying an additional 198,889 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of First Solar by 242.7% in the first quarter. Ameriprise Financial Inc. now owns 255,111 shares of the solar cell manufacturer’s stock valued at $6,914,000 after buying an additional 180,665 shares in the last quarter. 60.35% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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