BidaskClub Lowers First Solar (NASDAQ:FSLR) to Sell

BidaskClub downgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a sell rating in a report released on Tuesday, BidAskClub reports.

A number of other research firms have also recently weighed in on FSLR. Roth Capital set a $75.00 price target on shares of First Solar and gave the stock a buy rating in a research note on Thursday, June 13th. Barclays reissued a buy rating on shares of First Solar in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of First Solar from $74.00 to $82.00 and gave the company an overweight rating in a research note on Friday, August 2nd. UBS Group increased their price objective on shares of First Solar to $80.00 and gave the company a buy rating in a research note on Friday, August 2nd. Finally, ValuEngine cut shares of First Solar from a buy rating to a hold rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $70.11.

FSLR traded up $1.21 during trading on Tuesday, hitting $63.44. The stock had a trading volume of 32,657 shares, compared to its average volume of 824,455. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.05. The firm has a market capitalization of $6.57 billion, a P/E ratio of 46.49, a PEG ratio of 1.13 and a beta of 1.28. The company’s 50-day moving average price is $63.11 and its 200 day moving average price is $60.28. First Solar has a twelve month low of $36.51 and a twelve month high of $69.24.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.20). The firm had revenue of $585.00 million during the quarter, compared to analyst estimates of $656.80 million. First Solar had a net margin of 0.95% and a return on equity of 0.46%. The business’s quarterly revenue was up 89.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.46) earnings per share. As a group, equities analysts expect that First Solar will post 2.37 earnings per share for the current fiscal year.

In other First Solar news, Director R Craig Kennedy sold 1,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $62.55, for a total value of $112,590.00. Following the transaction, the director now directly owns 25,805 shares in the company, valued at approximately $1,614,102.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Georges Antoun sold 8,476 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $65.73, for a total transaction of $557,127.48. Following the completion of the transaction, the insider now owns 82,070 shares in the company, valued at $5,394,461.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,155 shares of company stock worth $5,799,590. 0.72% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in FSLR. Invesco Ltd. lifted its holdings in First Solar by 273.0% in the 2nd quarter. Invesco Ltd. now owns 2,686,374 shares of the solar cell manufacturer’s stock valued at $176,441,000 after purchasing an additional 1,966,171 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of First Solar by 986.3% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,637,421 shares of the solar cell manufacturer’s stock worth $86,521,000 after acquiring an additional 1,486,686 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of First Solar by 40.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,304,211 shares of the solar cell manufacturer’s stock worth $151,340,000 after acquiring an additional 664,729 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of First Solar during the 2nd quarter worth about $34,160,000. Finally, BlackRock Inc. lifted its holdings in shares of First Solar by 5.6% during the 1st quarter. BlackRock Inc. now owns 7,998,996 shares of the solar cell manufacturer’s stock worth $422,666,000 after acquiring an additional 422,290 shares during the period. Institutional investors own 64.41% of the company’s stock.

First Solar Company Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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