First Solar (NASDAQ:FSLR) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday. The brokerage presently has a $65.10 price target on the solar cell manufacturer’s stock. Vetr‘s target price points to a potential upside of 13.67% from the company’s current price.

A number of other research firms have also issued reports on FSLR. Roth Capital set a $70.00 target price on First Solar and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of First Solar in a research note on Friday. Zacks Investment Research lowered First Solar from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine lowered First Solar from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and issued a $65.00 target price (up previously from $50.00) on shares of First Solar in a research note on Thursday. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.91.

Shares of First Solar (NASDAQ:FSLR) traded down $3.03 during trading hours on Monday, hitting $57.27. The stock had a trading volume of 4,210,456 shares, compared to its average volume of 2,760,666. The stock has a market cap of $6,297.31, a price-to-earnings ratio of 14.78 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $63.10.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in First Solar by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after acquiring an additional 243,787 shares during the last quarter. Schroder Investment Management Group raised its holdings in First Solar by 12,600.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after acquiring an additional 1,666,064 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in First Solar by 6.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock valued at $66,825,000 after acquiring an additional 82,634 shares during the last quarter. Key Square Capital Management LLC acquired a new position in First Solar in the 3rd quarter valued at $23,621,000. Finally, Ecofin Ltd. acquired a new position in First Solar in the 2nd quarter valued at $19,485,000. Institutional investors own 51.21% 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 Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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