First Solar, Inc. (NASDAQ:FSLR) was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating in a report issued on Wednesday. The brokerage currently has a $47.67 price objective on the solar cell manufacturer’s stock. Vetr‘s price objective would suggest a potential downside of 2.85% from the company’s current price.

A number of other analysts have also issued reports on FSLR. UBS AG upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Axiom Securities restated a “buy” rating on shares of First Solar in a research note on Thursday, August 10th. JMP Securities set a $67.00 price target on shares of First Solar and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.89.

First Solar (NASDAQ:FSLR) traded down 0.04% on Wednesday, reaching $49.07. 1,840,042 shares of the company’s stock traded hands. The stock has a 50-day moving average of $44.70 and a 200 day moving average of $36.04. The firm’s market capitalization is $5.12 billion. First Solar has a 52 week low of $25.56 and a 52 week high of $50.21.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.60. The company had revenue of $623 million for the quarter, compared to analyst estimates of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business’s quarterly revenue was down 38.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. On average, equities analysts expect that First Solar will post $2.11 EPS for the current fiscal year.

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In other First Solar news, CFO Alexander R. Bradley sold 566 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the sale, the chief financial officer now owns 963 shares in the company, valued at approximately $46,859.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bryan Robert Schumaker sold 1,235 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $49,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,909 shares of company stock worth $4,705,246. 0.40% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of FSLR. BlackRock Inc. increased its stake in 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 during the last quarter. Vanguard Group Inc. increased its stake in First Solar by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after buying an additional 243,787 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock valued at $74,715,000 after buying an additional 158,896 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in First Solar by 12,600.7% in the second quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after buying an additional 1,666,064 shares during the last quarter. Hedge funds and other institutional investors own 60.25% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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