First Solar (NASDAQ:FSLR) Upgraded at StockNews.com

StockNews.com upgraded shares of First Solar (NASDAQ:FSLRGet Rating) from a sell rating to a hold rating in a research report released on Tuesday morning.

FSLR has been the subject of a number of other reports. Robert W. Baird boosted their target price on First Solar from $119.00 to $164.00 and gave the company an outperform rating in a research report on Wednesday, August 31st. The Goldman Sachs Group upgraded First Solar from a sell rating to a buy rating and lifted their price target for the company from $60.00 to $172.00 in a research note on Wednesday, September 7th. Credit Suisse Group cut their price target on First Solar to $77.00 in a research note on Monday, July 25th. JPMorgan Chase & Co. upgraded First Solar from a neutral rating to an overweight rating and lifted their price target for the company from $83.00 to $126.00 in a research note on Monday, August 8th. Finally, Bank of America lifted their price target on First Solar from $141.00 to $152.00 in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $122.26.

First Solar Stock Performance

FSLR stock opened at $131.77 on Tuesday. The stock has a 50-day moving average price of $111.46 and a 200-day moving average price of $86.04. First Solar has a 1-year low of $59.60 and a 1-year high of $140.64. The company has a current ratio of 4.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.03. The firm has a market cap of $14.05 billion, a PE ratio of 74.87 and a beta of 1.37.

First Solar (NASDAQ:FSLRGet Rating) last issued its earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). First Solar had a net margin of 7.63% and a return on equity of 3.21%. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $606.45 million. During the same period in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts expect that First Solar will post -0.06 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Michael Koralewski sold 1,822 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $67.58, for a total transaction of $123,130.76. Following the sale, the insider now owns 1,007 shares of the company’s stock, valued at approximately $68,053.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director R Craig Kennedy sold 600 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $134.62, for a total value of $80,772.00. Following the transaction, the director now owns 19,185 shares of the company’s stock, valued at $2,582,684.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Koralewski sold 1,822 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $67.58, for a total transaction of $123,130.76. Following the completion of the transaction, the insider now directly owns 1,007 shares in the company, valued at approximately $68,053.06. The disclosure for this sale can be found here. Insiders have sold 45,073 shares of company stock valued at $4,126,658 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Ellevest Inc. grew its position in First Solar by 53.3% in the first quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 130 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in First Solar in the second quarter worth $32,000. Covestor Ltd grew its position in First Solar by 97.7% in the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock worth $35,000 after acquiring an additional 208 shares in the last quarter. Field & Main Bank grew its position in First Solar by 625.0% in the first quarter. Field & Main Bank now owns 580 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 500 shares in the last quarter. Finally, Addison Advisors LLC grew its position in First Solar by 67.0% in the first quarter. Addison Advisors LLC now owns 708 shares of the solar cell manufacturer’s stock worth $59,000 after acquiring an additional 284 shares in the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Company Profile

(Get Rating)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

Read More

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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.