First Solar, Inc. (FSLR) Receives Consensus Recommendation of “Hold” from Analysts
Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned a consensus recommendation of “Hold” from the twenty-seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $46.79.
A number of research firms have recently commented on FSLR. Axiom Securities reiterated a “buy” rating on shares of First Solar in a report on Wednesday, August 30th. Bank of America Corporation reiterated a “buy” rating and set a $64.00 price target on shares of First Solar in a report on Tuesday, August 29th. Zacks Investment Research cut shares of First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Deutsche Bank AG upgraded shares of First Solar from a “hold” rating to a “buy” rating and increased their price target for the company from $50.00 to $65.00 in a report on Friday, September 15th. Finally, Cowen and Company reiterated a “buy” rating and set a $57.00 price target on shares of First Solar in a report on Sunday, September 3rd.
In other news, CFO Alexander R. Bradley sold 566 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the sale, the chief financial officer now directly owns 963 shares of the company’s stock, valued at approximately $46,859.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 43,189 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the completion of the sale, the chief executive officer now directly owns 107,454 shares in the company, valued at $5,216,891.70. The disclosure for this sale can be found here. Insiders have sold a total of 94,674 shares of company stock worth $4,655,846 in the last 90 days. 0.58% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new position in First Solar during the first quarter worth $212,000. Benjamin F. Edwards & Company Inc. raised its position in First Solar by 57.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after acquiring an additional 950 shares during the period. Fiduciary Trust Co. acquired a new position in First Solar during the second quarter worth $128,000. NEXT Financial Group Inc raised its position in First Solar by 23.9% during the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 975 shares during the period. Finally, Parsec Financial Management Inc. acquired a new position in First Solar during the second quarter worth $204,000. 53.08% of the stock is currently owned by hedge funds and other institutional investors.
First Solar (FSLR) traded down 0.9322% during trading on Wednesday, reaching $47.2256. The company’s stock had a trading volume of 267,300 shares. The firm’s market cap is $4.93 billion. First Solar has a one year low of $25.56 and a one year high of $53.00. The company has a 50-day moving average of $47.66 and a 200 day moving average of $40.10.
First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business had revenue of $623.00 million during the quarter, compared to the consensus estimate of $591.55 million. During the same quarter last year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. Analysts expect that First Solar will post $2.11 EPS for the current fiscal year.
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 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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