First Solar, Inc. (NASDAQ:FSLR) Receives $68.25 Consensus Target Price from Analysts

First Solar, Inc. (NASDAQ:FSLR) has been given a consensus rating of “Hold” by the fifteen research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $68.25.

A number of brokerages have recently commented on FSLR. Morgan Stanley decreased their price objective on shares of First Solar from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Robert W. Baird set a $80.00 price objective on shares of First Solar and gave the company a “buy” rating in a research report on Friday, October 25th. ValuEngine downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Barclays downgraded shares of First Solar from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $66.00 to $49.00 in a research report on Wednesday, January 15th. Finally, Cfra downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research report on Friday, October 25th.

Shares of FSLR traded up $0.65 during midday trading on Friday, reaching $55.26. The stock had a trading volume of 651,682 shares, compared to its average volume of 1,515,386. The firm has a 50 day simple moving average of $54.02 and a 200-day simple moving average of $57.34. First Solar has a one year low of $48.76 and a one year high of $69.24. The firm has a market cap of $5.56 billion, a PE ratio of -1,381.50, a P/E/G ratio of 0.91 and a beta of 1.31. The company has a current ratio of 4.00, a quick ratio of 3.24 and a debt-to-equity ratio of 0.09.

In other news, COO Philip Dejong sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $53.37, for a total transaction of $266,850.00. Also, insider Georges Antoun sold 8,476 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $49.65, for a total transaction of $420,833.40. Following the sale, the insider now owns 27,638 shares of the company’s stock, valued at approximately $1,372,226.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,919 shares of company stock valued at $2,273,653. 0.72% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caxton Associates LP acquired a new position in shares of First Solar in the 4th quarter valued at approximately $1,829,000. Captrust Financial Advisors raised its position in shares of First Solar by 4,676.2% in the 4th quarter. Captrust Financial Advisors now owns 266,510 shares of the solar cell manufacturer’s stock valued at $15,255,000 after buying an additional 260,930 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of First Solar by 15.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 45,277 shares of the solar cell manufacturer’s stock valued at $2,534,000 after buying an additional 6,037 shares in the last quarter. AQR Capital Management LLC raised its position in shares of First Solar by 42.1% in the 4th quarter. AQR Capital Management LLC now owns 7,910 shares of the solar cell manufacturer’s stock valued at $443,000 after buying an additional 2,343 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new position in shares of First Solar in the 4th quarter valued at approximately $241,000. Institutional investors own 61.65% of the company’s stock.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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