First Solar (FSLR) Lifted to Strong-Buy at BidaskClub
First Solar (NASDAQ:FSLR) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.
A number of other research firms also recently weighed in on FSLR. Zacks Investment Research downgraded First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 13th. Deutsche Bank upgraded First Solar from a “hold” rating to a “buy” rating and upped their target price for the stock from $50.00 to $65.00 in a report on Friday, September 15th. Robert W. Baird reiterated a “hold” rating and set a $50.00 target price on shares of First Solar in a report on Friday, September 1st. Vetr downgraded First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 target price on the stock. in a report on Wednesday, October 18th. Finally, JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $61.00.
First Solar (NASDAQ FSLR) traded down $1.14 during mid-day trading on Tuesday, hitting $68.91. The company’s stock had a trading volume of 2,518,453 shares, compared to its average volume of 2,795,812. First Solar has a 1 year low of $25.56 and a 1 year high of $71.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. The stock has a market cap of $7,312.40, a P/E ratio of 17.16 and a beta of 2.03.
In other news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the sale, the chief executive officer now directly owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FSLR. Fiduciary Trust Co. bought a new position in First Solar in the 2nd quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Solar by 64.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after acquiring an additional 1,716 shares in the last quarter. Garner Asset Management Corp bought a new position in First Solar in the 2nd quarter valued at approximately $208,000. World Asset Management Inc bought a new position in First Solar in the 2nd quarter valued at approximately $221,000. Finally, Riverhead Capital Management LLC lifted its position in First Solar by 82.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after acquiring an additional 2,560 shares in the last quarter. 51.21% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.