First Solar (FSLR) Lowered to Buy at ValuEngine

First Solar (NASDAQ:FSLR) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Friday.

FSLR has been the subject of several other reports. BidaskClub lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Cowen reaffirmed a “buy” rating and issued a $57.00 price objective on shares of First Solar in a research report on Sunday, September 3rd. Roth Capital reaffirmed a “buy” rating and issued a $60.00 price objective on shares of First Solar in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “hold” rating and issued a $53.00 price objective on shares of First Solar in a research report on Friday, October 27th. Finally, Needham & Company LLC increased their price objective on shares of First Solar to $65.00 and gave the company a “buy” rating in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.84.

First Solar (FSLR) traded down $1.80 during mid-day trading on Friday, hitting $60.30. 1,777,478 shares of the company’s stock traded hands, compared to its average volume of 1,649,532. The stock has a market capitalization of $6,297.31, a price-to-earnings ratio of 14.78 and a beta of 2.03. First Solar has a 1-year low of $25.56 and a 1-year high of $63.10. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. sell-side analysts expect that First Solar will post 2.47 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Energy Opportunities Capital Management LLC acquired a new position in First Solar in the 3rd quarter worth approximately $1,250,000. GSA Capital Partners LLP acquired a new position in First Solar in the 3rd quarter worth approximately $488,000. Cetera Advisors LLC increased its holdings in First Solar by 16.0% in the 3rd quarter. Cetera Advisors LLC now owns 7,963 shares of the solar cell manufacturer’s stock worth $365,000 after buying an additional 1,100 shares during the period. Janus Henderson Group PLC acquired a new position in First Solar in the 3rd quarter worth approximately $1,519,000. Finally, Vident Investment Advisory LLC acquired a new position in First Solar in the 3rd quarter worth approximately $2,720,000. Institutional investors own 51.17% of the company’s stock.

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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 ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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