First Solar, Inc. (NASDAQ:FSLR) Upgraded by Vetr Inc. to “Hold”

Vetr upgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a sell rating to a hold rating in a report released on Wednesday, August 2nd. They currently have $48.61 price objective on the solar cell manufacturer’s stock.

Several other research firms have also recently weighed in on FSLR. Cowen and Company set a $57.00 price target on First Solar and gave the company a buy rating in a report on Saturday, July 29th. Roth Capital raised their price target on First Solar from $40.00 to $55.00 and gave the company a buy rating in a report on Wednesday, July 26th. Bank of America Corporation reiterated a buy rating and set a $54.00 price objective (up from $38.00) on shares of First Solar in a research report on Wednesday, July 26th. BidaskClub upgraded First Solar from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Finally, TheStreet upgraded First Solar from a d+ rating to a c rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company. First Solar presently has a consensus rating of Hold and a consensus target price of $43.35.

First Solar (NASDAQ:FSLR) opened at 47.54 on Wednesday. The company’s 50-day moving average is $43.93 and its 200-day moving average is $35.65. The company’s market cap is $4.96 billion. First Solar has a 12 month low of $25.56 and a 12 month high of $50.21.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.60. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The firm had revenue of $623 million for the quarter, compared to analysts’ expectations of $591.55 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. On average, equities research analysts anticipate that First Solar will post $2.11 earnings per share for the current year.

WARNING: “First Solar, Inc. (NASDAQ:FSLR) Upgraded by Vetr Inc. to “Hold”” was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.com-unik.info/2017/08/12/first-solar-inc-nasdaqfslr-lifted-to-hold-at-vetr-inc-updated.html.

In other news, CFO Alexander R. Bradley sold 566 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the sale, the chief financial officer now directly owns 963 shares in the company, valued at $46,859.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $40.00, for a total transaction of $49,400.00. The disclosure for this sale can be found here. Insiders sold 95,909 shares of company stock valued at $4,705,246 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. James Investment Research Inc. bought a new position in First Solar during the first quarter worth $163,000. Retirement Systems of Alabama increased its position in First Solar by 165.0% in the first quarter. Retirement Systems of Alabama now owns 100,743 shares of the solar cell manufacturer’s stock worth $2,730,000 after buying an additional 62,725 shares in the last quarter. DnB Asset Management AS increased its position in First Solar by 0.6% in the first quarter. DnB Asset Management AS now owns 518,218 shares of the solar cell manufacturer’s stock worth $14,044,000 after buying an additional 3,300 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of First Solar during the first quarter worth approximately $534,000. Finally, Cullinan Associates Inc. increased its position in shares of First Solar by 9.0% in the first quarter. Cullinan Associates Inc. now owns 12,100 shares of the solar cell manufacturer’s stock worth $328,000 after buying an additional 1,000 shares in the last quarter. 60.75% of the stock is currently owned by institutional investors.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

What are top analysts saying about First Solar Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for First Solar Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit