First Solar, Inc. (NASDAQ:FSLR) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage currently has a $53.04 target price on the solar cell manufacturer’s stock. Vetr‘s price objective would suggest a potential upside of 12.37% from the stock’s current price.

Several other analysts also recently commented on the stock. Zacks Investment Research raised shares of First Solar from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, October 2nd. JMP Securities reaffirmed an “outperform” rating and set a $50.00 price target (down previously from $67.00) on shares of First Solar in a report on Tuesday, September 26th. Roth Capital reaffirmed a “buy” rating and set a $60.00 price target on shares of First Solar in a report on Tuesday, September 26th. Deutsche Bank AG raised shares of First Solar from a “hold” rating to a “buy” rating and upped their price target for the stock from $50.00 to $65.00 in a report on Friday, September 15th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $57.00 price target on shares of First Solar in a report on Sunday, September 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.18.

First Solar (NASDAQ FSLR) traded down 0.99% during mid-day trading on Wednesday, hitting $47.20. The stock had a trading volume of 1,068,211 shares. First Solar has a 12-month low of $25.56 and a 12-month high of $53.00. The company has a 50-day moving average of $47.68 and a 200-day moving average of $40.16. The stock’s market cap is $4.93 billion.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.60. The company had revenue of $623.00 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%. First Solar’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. On average, analysts anticipate that First Solar will post $2.11 earnings per share for the current fiscal year.

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In related news, COO Philip Dejong sold 21,091 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.73, for a total transaction of $1,048,855.43. Following the completion of the sale, the chief operating officer now owns 23,646 shares in the company, valued at $1,175,915.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul J. Kaleta sold 23,696 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.69, for a total transaction of $1,177,454.24. Following the sale, the executive vice president now owns 14,510 shares of the company’s stock, valued at approximately $721,001.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,674 shares of company stock valued at $4,655,846. 0.58% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its position in shares of First Solar by 0.5% in the second quarter. Clear Harbor Asset Management LLC now owns 17,145 shares of the solar cell manufacturer’s stock valued at $716,000 after acquiring an additional 80 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of First Solar by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer’s stock valued at $962,000 after acquiring an additional 125 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of First Solar by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock valued at $602,000 after acquiring an additional 165 shares during the period. Intellectus Partners LLC boosted its position in shares of First Solar by 1.2% in the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock valued at $696,000 after acquiring an additional 200 shares during the period. Finally, Amalgamated Bank boosted its position in shares of First Solar by 1.9% in the first quarter. Amalgamated Bank now owns 12,030 shares of the solar cell manufacturer’s stock valued at $326,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 53.08% 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 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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