First Solar, Inc. (NASDAQ:FSLR) Given a $57.00 Price Target at Cowen and Company

First Solar, Inc. (NASDAQ:FSLR) has been given a $57.00 price objective by research analysts at Cowen and Company in a report issued on Saturday, July 29th. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. Cowen and Company’s target price suggests a potential upside of 18.60% from the stock’s current price.

A number of other brokerages have also recently commented on FSLR. Deutsche Bank AG set a $47.00 target price on shares of First Solar and gave the company a “hold” rating in a report on Wednesday, July 19th. Roth Capital boosted their price objective on shares of First Solar from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Bank of America Corporation reissued a “buy” rating and issued a $54.00 price objective (up from $38.00) on shares of First Solar in a research note on Wednesday, July 26th. TheStreet raised shares of First Solar from a “d+” rating to a “c” rating in a research note on Wednesday, July 19th. Finally, BidaskClub raised shares of First Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $43.89.

Shares of First Solar (NASDAQ:FSLR) opened at 48.06 on Friday. The company’s 50-day moving average is $45.14 and its 200-day moving average is $36.24. The stock’s market capitalization is $5.02 billion. First Solar has a one year low of $25.56 and a one year high of $50.21.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.60. The business had revenue of $623 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 38.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. On average, equities research analysts anticipate that First Solar will post $2.11 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by BNB Daily and is the sole property of of BNB Daily. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/cowen-and-company-analysts-give-first-solar-inc-nasdaqfslr-a-57-00-price-target-updated-updated.html.

In other First Solar news, CFO Alexander R. Bradley sold 566 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the transaction, the chief financial officer now directly owns 963 shares in the company, valued at approximately $46,859.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Raffi Garabedian sold 5,800 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.83, for a total transaction of $289,014.00. Following the completion of the transaction, the insider now owns 11,474 shares in the company, valued at $571,749.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,909 shares of company stock worth $4,705,246. 0.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia purchased a new position in First Solar during the first quarter worth about $212,000. Benjamin F. Edwards & Company Inc. raised its position 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 period. Fiduciary Trust Co. purchased a new position in First Solar during the second quarter worth about $128,000. Amica Retiree Medical Trust raised its position 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 period. Finally, NEXT Financial Group Inc increased its position 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 in the last quarter. Institutional investors own 60.25% 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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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.

Latest News

Leave a Reply