First Solar Inc. (FSLR) Downgraded to “Buy” at Vetr Inc.
First Solar Inc. (NASDAQ:FSLR) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday. They presently have a $42.68 price objective on the solar cell manufacturer’s stock. Vetr‘s target price would indicate a potential upside of 11.61% from the stock’s current price.
A number of other brokerages have also recently weighed in on FSLR. Deutsche Bank AG restated a “hold” rating and set a $44.00 price objective on shares of First Solar in a research note on Thursday, August 4th. Robert W. Baird reiterated an “outperform” rating and issued a $60.00 price target on shares of First Solar in a research note on Thursday, August 4th. Morgan Stanley set a $59.00 price target on First Solar and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Needham & Company LLC reiterated a “hold” rating on shares of First Solar in a research note on Monday, June 27th. Finally, Roth Capital reiterated a “buy” rating and issued a $55.00 price target (down from $70.00) on shares of First Solar in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.28.
First Solar (NASDAQ:FSLR) traded down 0.10% on Wednesday, hitting $38.24. The stock had a trading volume of 1,349,517 shares. The stock has a market cap of $3.91 billion, a P/E ratio of 5.63 and a beta of 1.54. The company’s 50 day moving average is $37.49 and its 200-day moving average is $47.46. First Solar has a 12 month low of $33.74 and a 12 month high of $74.29.
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First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.32. The firm earned $934.40 million during the quarter, compared to analysts’ expectations of $862.68 million. First Solar had a return on equity of 13.78% and a net margin of 17.45%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 EPS. Analysts forecast that First Solar will post $4.25 EPS for the current year.
In other First Solar news, insider Georges Antoun sold 133,761 shares of First Solar stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.54, for a total value of $5,957,714.94. Following the sale, the insider now owns 151,471 shares in the company, valued at $6,746,518.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Philip Dejong sold 67,251 shares of First Solar stock in a transaction on Friday, August 5th. The shares were sold at an average price of $44.28, for a total value of $2,977,874.28. Following the completion of the sale, the chief operating officer now owns 45,499 shares in the company, valued at approximately $2,014,695.72. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. increased its stake in First Solar by 1,966.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 3,100 shares of the solar cell manufacturer’s stock worth $212,000 after buying an additional 2,950 shares in the last quarter. Scotia Capital Inc. acquired a new stake in First Solar during the first quarter worth approximately $302,000. Rafferty Asset Management LLC acquired a new stake in First Solar during the first quarter worth approximately $474,000. Kempen Capital Management N.V. increased its stake in First Solar by 53.5% in the first quarter. Kempen Capital Management N.V. now owns 5,155 shares of the solar cell manufacturer’s stock worth $353,000 after buying an additional 1,797 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in First Solar during the first quarter worth approximately $819,000. Institutional investors own 57.51% 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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
To view Vetr’s full report, visit Vetr’s official website.
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