First Solar Inc. (NASDAQ:FSLR) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $33.74 and last traded at $34.08, with a volume of 1,625,251 shares changing hands. The stock had previously closed at $34.42.

A number of brokerages have recently weighed in on FSLR. JMP Securities set a $32.00 price target on shares of First Solar and gave the stock a “sell” rating in a research note on Saturday. Robert W. Baird reaffirmed an “outperform” rating and issued a $60.00 price target on shares of First Solar in a research note on Thursday, August 4th. Vetr raised shares of First Solar from a “hold” rating to a “buy” rating and set a $50.01 price target for the company in a research note on Tuesday, July 26th. S&P Equity Research lowered shares of First Solar from a “buy” rating to a “hold” rating and reduced their price target for the stock from $75.00 to $55.00 in a research note on Friday, August 5th. Finally, Mizuho reduced their price target on shares of First Solar from $67.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $58.83.

The firm has a market capitalization of $3.48 billion, a P/E ratio of 5.01 and a beta of 1.86. The stock’s 50-day moving average price is $39.04 and its 200 day moving average price is $51.11.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/first-solar-inc-fslr-hits-new-52-week-low-at-33-74.html

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.32. The firm earned $934.40 million during the quarter, compared to the consensus estimate of $862.68 million. First Solar had a return on equity of 13.78% and a net margin of 17.45%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 earnings per share. On average, equities analysts forecast that First Solar Inc. will post $4.25 earnings per share for the current year.

In other First Solar news, COO Philip Dejong sold 67,251 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.28, for a total transaction of $2,977,874.28. Following the completion of the transaction, the chief operating officer now owns 45,499 shares of the company’s stock, valued at $2,014,695.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher Bueter sold 29,384 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.23, for a total value of $1,299,654.32. Following the transaction, the executive vice president now directly owns 17,718 shares of the company’s stock, valued at approximately $783,667.14. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC increased its position in First Solar by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,924 shares of the solar cell manufacturer’s stock valued at $142,000 after buying an additional 11 shares in the last quarter. IBM Retirement Fund increased its position in First Solar by 0.6% in the second quarter. IBM Retirement Fund now owns 7,643 shares of the solar cell manufacturer’s stock valued at $371,000 after buying an additional 49 shares in the last quarter. Scotia Capital Inc. increased its position in First Solar by 1.2% in the second quarter. Scotia Capital Inc. now owns 4,459 shares of the solar cell manufacturer’s stock valued at $216,000 after buying an additional 55 shares in the last quarter. World Asset Management Inc increased its position in First Solar by 1.0% in the second quarter. World Asset Management Inc now owns 7,180 shares of the solar cell manufacturer’s stock valued at $348,000 after buying an additional 71 shares in the last quarter. Finally, BOKF NA increased its position in First Solar by 3.8% in the second quarter. BOKF NA now owns 2,202 shares of the solar cell manufacturer’s stock valued at $106,000 after buying an additional 81 shares in the last quarter. 57.53% of the stock is owned by institutional investors.

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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.

5 Day Chart for NASDAQ:FSLR

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 MarketBeat.com's FREE daily email newsletter.