Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of First Solar from a hold rating to a buy rating and set a $76.00 price target for the company in a report on Tuesday, January 2nd. Vetr upgraded shares of First Solar from a sell rating to a hold rating and set a $66.50 price target for the company in a report on Thursday, December 14th. Deutsche Bank upgraded shares of First Solar from a hold rating to a buy rating and boosted their price target for the stock from $50.00 to $65.00 in a report on Friday, September 15th. Goldman Sachs Group reiterated a neutral rating and set a $65.00 price target (up previously from $50.00) on shares of First Solar in a report on Thursday, November 30th. Finally, Cowen reiterated an outperform rating and set a $77.00 price target (up previously from $60.00) on shares of First Solar in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $63.13.
Shares of First Solar (FSLR) traded down $2.86 during mid-day trading on Thursday, hitting $73.41. 4,033,500 shares of the company were exchanged, compared to its average volume of 2,434,089. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $7,670.00, a PE ratio of -17.65 and a beta of 2.04. First Solar has a 52-week low of $25.56 and a 52-week high of $76.61.
In other news, COO Philip Dejong sold 15,304 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the completion of the sale, the chief operating officer now owns 10,424 shares in the company, valued at approximately $707,059.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raffi Garabedian sold 11,284 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $70.06, for a total transaction of $790,557.04. Following the sale, the insider now owns 9,227 shares of the company’s stock, valued at approximately $646,443.62. The disclosure for this sale can be found here. Insiders have sold a total of 46,858 shares of company stock valued at $3,134,015 in the last 90 days. Insiders own 0.58% of the company’s stock.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in First Solar by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after purchasing an additional 243,787 shares during the last quarter. Bank of New York Mellon Corp raised its position in First Solar by 6.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock valued at $66,825,000 after purchasing an additional 82,634 shares during the last quarter. Key Square Capital Management LLC purchased a new stake in First Solar in the 3rd quarter valued at $23,621,000. Ecofin Ltd. purchased a new stake in First Solar in the 2nd quarter valued at $19,485,000. Finally, Lord Abbett & CO. LLC purchased a new stake in First Solar in the 2nd quarter valued at $15,099,000. Institutional investors and hedge funds own 50.88% of the company’s stock.
First Solar Company Profile
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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