Standpoint Research downgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a buy rating to a hold rating in a report released on Wednesday, July 19th, MarketBeat Ratings reports.
Several other analysts also recently commented on the stock. Roth Capital upgraded shares of First Solar from a neutral rating to a buy rating and set a $40.00 target price on the stock in a report on Thursday, April 27th. BidaskClub upgraded shares of First Solar from a hold rating to a buy rating in a report on Wednesday, June 28th. Cowen and Company set a $40.00 price objective on shares of First Solar and gave the company a buy rating in a report on Monday, July 10th. Vetr cut shares of First Solar from a strong-buy rating to a buy rating and set a $47.53 target price for the company. in a research note on Monday, July 17th. Finally, Axiom Securities raised shares of First Solar from a hold rating to a buy rating and raised their target price for the company from $45.40 to $51.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $43.35.
Shares of First Solar (NASDAQ:FSLR) traded up 1.69% during trading on Wednesday, hitting $47.54. 1,013,896 shares of the company were exchanged. First Solar has a 12 month low of $25.56 and a 12 month high of $50.21. The company’s 50-day moving average price is $43.93 and its 200 day moving average price is $35.65. The stock’s market cap is $4.96 billion.
First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.60. The company had revenue of $623 million for the quarter, compared to analyst estimates of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. On average, equities analysts predict that First Solar will post $2.11 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was reported by BNB Daily and is the property of of BNB Daily. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.baseball-news-blog.com/2017/08/14/first-solar-inc-fslr-downgraded-to-hold-at-standpoint-research-updated-updated-updated.html.
In other news, CEO Mark R. Widmar sold 43,189 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the transaction, the chief executive officer now directly owns 107,454 shares of the company’s stock, valued at $5,216,891.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $49,400.00. The disclosure for this sale can be found here. Insiders have sold 95,909 shares of company stock worth $4,705,246 over the last ninety days. 0.40% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia bought a new stake in First Solar during the first quarter worth approximately $212,000. Benjamin F. Edwards & Company Inc. raised its stake in First Solar by 57.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after buying an additional 950 shares during the last quarter. Fiduciary Trust Co. bought a new stake in First Solar during the second quarter worth approximately $128,000. Amica Retiree Medical Trust raised its stake in First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares during the last quarter. Finally, NEXT Financial Group Inc raised its stake in First Solar by 23.9% in the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after buying an additional 975 shares during the last quarter. 60.75% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.