First Solar (NASDAQ:FSLR) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a buy rating in a report released on Tuesday, ValuEngine reports.

Several other research firms also recently weighed in on FSLR. Robert W. Baird restated a buy rating on shares of First Solar in a research report on Monday, September 9th. BidaskClub downgraded First Solar from a hold rating to a sell rating in a research report on Tuesday, September 10th. Barclays restated a buy rating on shares of First Solar in a research report on Friday, August 2nd. Roth Capital set a $75.00 target price on First Solar and gave the company a buy rating in a research report on Thursday, June 13th. Finally, UBS Group raised their target price on First Solar to $80.00 and gave the company a buy rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $70.11.

NASDAQ FSLR opened at $66.70 on Tuesday. The company has a market cap of $6.93 billion, a PE ratio of 49.04, a price-to-earnings-growth ratio of 1.19 and a beta of 1.28. The stock’s 50 day simple moving average is $63.05 and its 200-day simple moving average is $60.77. First Solar has a 1-year low of $36.51 and a 1-year high of $69.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.05 and a quick ratio of 3.35.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share 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 analysts’ expectations of $656.80 million. First Solar had a net margin of 0.95% and a return on equity of 0.46%. The business’s revenue was up 89.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.46) EPS. On average, equities research analysts anticipate that First Solar will post 2.37 EPS for the current fiscal year.

In other First Solar news, COO Philip Dejong sold 2,860 shares of First Solar stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.52, for a total value of $187,387.20. Following the sale, the chief operating officer now owns 16,491 shares in the company, valued at $1,080,490.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Georges Antoun sold 8,476 shares of First Solar stock in a transaction on Friday, August 30th. The shares were sold at an average price of $61.83, for a total value of $524,071.08. Following the completion of the sale, the insider now owns 73,320 shares in the company, valued at approximately $4,533,375.60. The disclosure for this sale can be found here. Insiders sold 65,665 shares of company stock worth $4,122,700 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FSLR. Meridian Wealth Management LLC acquired a new stake in shares of First Solar in the second quarter valued at $25,000. Manchester Capital Management LLC acquired a new stake in shares of First Solar in the first quarter valued at $27,000. TCG Advisors LP acquired a new stake in shares of First Solar in the first quarter valued at $32,000. NumerixS Investment Technologies Inc acquired a new stake in shares of First Solar in the second quarter valued at $79,000. Finally, Destination Wealth Management acquired a new stake in shares of First Solar in the second quarter valued at $91,000. 62.22% of the stock is owned by institutional investors and hedge funds.

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.

Featured Story: Diversification

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

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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