First Solar, Inc. (FSLR) Upgraded at TheStreet
First Solar, Inc. (NASDAQ:FSLR) was upgraded by research analysts at TheStreet from a “d+” rating to a “c” rating in a research note issued to investors on Wednesday.
FSLR has been the topic of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of First Solar in a research note on Friday, April 7th. Credit Suisse Group lowered their target price on shares of First Solar from $29.00 to $25.00 and set an “underperform” rating on the stock in a research note on Friday, April 7th. Cowen and Company set a $40.00 target price on shares of First Solar and gave the company a “buy” rating in a research note on Monday, July 10th. Axiom Securities upgraded shares of First Solar from a “hold” rating to a “buy” rating and raised their target price for the company from $45.40 to $51.00 in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of First Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. First Solar presently has a consensus rating of “Hold” and a consensus target price of $43.68.
First Solar (FSLR) traded down 2.42% during trading on Wednesday, reaching $45.15. 2,192,569 shares of the company’s stock were exchanged. First Solar has a 1-year low of $25.56 and a 1-year high of $49.50. The company’s 50-day moving average is $39.23 and its 200-day moving average is $34.17. The company’s market capitalization is $4.71 billion.
First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.38. First Solar had a negative net margin of 18.14% and a positive return on equity of 6.71%. The business had revenue of $891.79 million for the quarter, compared to analyst estimates of $699.15 million. Equities research analysts expect that First Solar will post $0.56 earnings per share for the current fiscal year.
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In related news, insider Bryan Robert Schumaker sold 2,747 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $35.00, for a total transaction of $96,145.00. Following the completion of the transaction, the insider now owns 1,235 shares in the company, valued at $43,225. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J Thomas Presby acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average price of $36.89 per share, with a total value of $147,560.00. Following the acquisition, the director now owns 17,958 shares of the company’s stock, valued at approximately $662,470.62. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FSLR. Amica Retiree Medical Trust boosted its position in shares of First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in shares of First Solar by 2,220.9% in the third quarter. Cornerstone Advisors Inc. now owns 2,994 shares of the solar cell manufacturer’s stock worth $118,000 after buying an additional 2,865 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in shares of First Solar during the fourth quarter worth about $122,000. LS Investment Advisors LLC boosted its position in shares of First Solar by 21.7% in the third quarter. LS Investment Advisors LLC now owns 3,387 shares of the solar cell manufacturer’s stock worth $134,000 after buying an additional 605 shares in the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new position in shares of First Solar during the third quarter worth about $139,000. Hedge funds and other institutional investors own 60.37% 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.
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