First Solar (NASDAQ:FSLR) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued on Thursday. They currently have a $65.50 price objective on the solar cell manufacturer’s stock. Vetr‘s price target would indicate a potential downside of 4.28% from the stock’s previous close.

FSLR has been the subject of a number of other research reports. Goldman Sachs Group reissued a “neutral” rating and set a $65.00 price objective (up previously from $50.00) on shares of First Solar in a research report on Thursday, November 30th. Axiom Securities reissued a “buy” rating on shares of First Solar in a research report on Thursday, August 10th. Deutsche Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Needham & Company LLC upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. First Solar currently has an average rating of “Hold” and an average price target of $57.53.

Shares of First Solar (NASDAQ:FSLR) traded up $5.19 during mid-day trading on Thursday, hitting $68.43. 4,910,193 shares of the stock were exchanged, compared to its average volume of 2,789,156. First Solar has a 12-month low of $25.56 and a 12-month high of $68.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market cap of $6,392.34, a P/E ratio of 15.00 and a beta of 2.03.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in First Solar by 147.0% in the 3rd quarter. Capital World Investors now owns 7,100,000 shares of the solar cell manufacturer’s stock worth $280,379,000 after purchasing an additional 4,225,000 shares in the last quarter. BlackRock Inc. lifted its stake in First Solar by 7,977.6% in the 1st quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after purchasing an additional 6,836,843 shares in the last quarter. Vanguard Group Inc. lifted its stake in First Solar by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,645,256 shares of the solar cell manufacturer’s stock worth $322,162,000 after purchasing an additional 208,676 shares in the last quarter. Franklin Resources Inc. lifted its stake in First Solar by 5,075.3% in the 4th quarter. Franklin Resources Inc. now owns 6,269,614 shares of the solar cell manufacturer’s stock worth $201,193,000 after purchasing an additional 6,148,469 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in First Solar by 28.8% in the 1st quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after purchasing an additional 679,898 shares in the last quarter. Institutional investors own 51.21% of the company’s stock.

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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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