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.
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.
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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