First Solar (FSLR) Downgraded by Vetr
First Solar (NASDAQ:FSLR) was downgraded by stock analysts at Vetr from a “sell” rating to a “strong sell” rating in a report released on Thursday. They currently have a $65.52 price target on the solar cell manufacturer’s stock. Vetr‘s target price suggests a potential downside of 10.75% from the stock’s previous close.
FSLR has been the topic of several other research reports. Zacks Investment Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Tuesday, January 2nd. BidaskClub lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of First Solar in a research note on Friday, December 1st. Robert W. Baird restated a “hold” rating and issued a $53.00 price target on shares of First Solar in a research note on Friday, October 27th. Finally, Roth Capital restated a “buy” rating and issued a $60.00 price target on shares of First Solar in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.13.
First Solar (NASDAQ FSLR) traded down $2.86 on Thursday, reaching $73.41. 4,030,236 shares of the company traded hands, compared to its average volume of 1,529,531. The firm has a market capitalization of $7,666.43, a price-to-earnings ratio of -16.76 and a beta of 2.04. First Solar has a 52-week low of $25.56 and a 52-week high of $76.61. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06.
In other news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raffi Garabedian sold 11,284 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the completion of the transaction, the insider now owns 9,227 shares of the company’s stock, valued at $646,443.62. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock valued at $3,134,015 over the last quarter. Insiders own 0.58% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Energy Opportunities Capital Management LLC bought a new stake in First Solar during the third quarter worth approximately $1,250,000. GSA Capital Partners LLP bought a new stake in First Solar during the third quarter worth approximately $488,000. Cetera Advisors LLC boosted its holdings in First Solar by 16.0% during the third 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 in the last quarter. Janus Henderson Group PLC bought a new stake in First Solar during the third quarter worth approximately $1,519,000. Finally, Vident Investment Advisory LLC bought a new stake in First Solar during the third quarter worth approximately $2,720,000. Hedge funds and other institutional investors own 50.87% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “First Solar (FSLR) Downgraded by Vetr” was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/14/first-solar-fslr-downgraded-by-vetr.html.
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.
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.