First Solar (FSLR) Upgraded at BidaskClub

BidaskClub upgraded shares of First Solar (NASDAQ:FSLR) from a buy rating to a strong-buy rating in a research report released on Tuesday.

A number of other equities research analysts have also weighed in on FSLR. JMP Securities set a $67.00 price objective on First Solar and gave the company a buy rating in a report on Wednesday, August 16th. Deutsche Bank lifted their price objective on First Solar from $65.00 to $75.00 and gave the company a buy rating in a report on Wednesday, December 6th. Vetr lowered First Solar from a hold rating to a sell rating and set a $45.99 price objective on the stock. in a report on Monday, August 14th. Roth Capital set a $80.00 price target on shares of First Solar and gave the company a buy rating in a research report on Monday. Finally, Robert W. Baird upgraded shares of First Solar from a neutral rating to an outperform rating and lifted their price target for the company from $69.00 to $82.00 in a research report on Monday. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $61.47.

Shares of First Solar (FSLR) traded down $0.59 on Tuesday, reaching $67.89. The company’s stock had a trading volume of 1,529,700 shares, compared to its average volume of 2,786,629. First Solar has a 12 month low of $25.56 and a 12 month high of $71.80. The stock has a market cap of $7,151.57, a price-to-earnings ratio of 16.78 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. During the same quarter in the previous year, the company earned $1.22 EPS. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year. equities analysts predict that First Solar will post 2.52 EPS for the current fiscal year.

In other news, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the sale, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. Energy Opportunities Capital Management LLC acquired a new position in shares of First Solar during the 3rd quarter worth approximately $1,250,000. GSA Capital Partners LLP acquired a new position in shares of First Solar during the 3rd quarter worth approximately $488,000. Cetera Advisors LLC raised its position in shares of First Solar by 16.0% during the 3rd quarter. Cetera Advisors LLC now owns 7,963 shares of the solar cell manufacturer’s stock worth $365,000 after purchasing an additional 1,100 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of First Solar during the 3rd quarter worth approximately $1,519,000. Finally, Vident Investment Advisory LLC acquired a new position in shares of First Solar during the 3rd quarter worth approximately $2,720,000. Hedge funds and other institutional investors own 51.21% of the company’s stock.

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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.

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