Brean Capital Reiterates Buy Rating for First Solar (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reiterated by stock analysts at Brean Capital in a report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a $83.00 price objective on the stock. Brean Capital’s price objective indicates a potential upside of 25.23% from the stock’s previous close.
Shares of First Solar (NASDAQ:FSLR) traded up 0.55% on Tuesday, hitting $66.28. 2,449,252 shares of the company’s stock traded hands. First Solar has a 52 week low of $35.59 and a 52 week high of $74.84. The stock has a 50-day moving average of $67.0 and a 200-day moving average of $58.08. The company has a market cap of $6.596 billion and a P/E ratio of 17.82. First Solar also was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 10,214,700 shares, a decrease of 16.5% from the March 31st total of 12,234,778 shares. Currently, 14.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,006,961 shares, the days-to-cover ratio is currently 2.0 days.
First Solar (NASDAQ:FSLR) last released its earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.98 by $0.09. The company had revenue of $768.00 million for the quarter, compared to the consensus estimate of $965.40 million. Analysts expect that First Solar will post $2.49 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FSLR. Analysts at Argus raised their price target on shares of First Solar from $70.00 to $81.00 in a research note on Thursday, April 17th. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of First Solar from $63.00 to $87.00 in a research note on Friday, April 4th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America reiterated an “underperform” rating on shares of First Solar in a research note on Thursday, March 20th. They now have a $48.00 price target on the stock, up previously from $40.00. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. First Solar has a consensus rating of “Hold” and an average price target of $57.70.
First Solar, Inc manufactures and sells photovoltaic (NASDAQ:FSLR) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems.
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