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.

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

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.

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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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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