Roth Capital set a $75.00 price objective on First Solar (NASDAQ:FSLR) in a research note released on Thursday morning, TipRanks reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.
FSLR has been the subject of several other research reports. Goldman Sachs Group set a $75.00 price target on shares of First Solar and gave the company a buy rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. dropped their price target on shares of First Solar to $70.00 and set an overweight rating for the company in a research note on Friday, February 22nd. ValuEngine raised shares of First Solar from a hold rating to a buy rating in a research note on Wednesday, May 1st. Argus increased their price objective on shares of First Solar to $66.00 and gave the stock an average rating in a research report on Friday, May 3rd. Finally, BidaskClub raised shares of First Solar from a hold rating to a buy rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $65.67.
Shares of First Solar stock traded down $0.52 during mid-day trading on Thursday, hitting $61.63. The stock had a trading volume of 6,798 shares, compared to its average volume of 1,042,453. First Solar has a 12-month low of $36.51 and a 12-month high of $65.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.38 and a quick ratio of 3.83. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 45.45, a price-to-earnings-growth ratio of 1.07 and a beta of 1.31.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.52). First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The firm had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $596.32 million. During the same period last year, the company earned $0.78 EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts expect that First Solar will post 2.41 earnings per share for the current fiscal year.
In other First Solar news, CEO Mark R. Widmar sold 33,371 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $60.00, for a total value of $2,002,260.00. Following the completion of the transaction, the chief executive officer now owns 152,510 shares of the company’s stock, valued at approximately $9,150,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 8,481 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.04, for a total transaction of $509,199.24. Following the completion of the transaction, the insider now directly owns 107,946 shares of the company’s stock, valued at approximately $6,481,077.84. The disclosure for this sale can be found here. Insiders have sold a total of 117,386 shares of company stock valued at $7,028,591 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. raised its holdings in First Solar by 231.8% in the 4th quarter. Advisors Asset Management Inc. now owns 2,641 shares of the solar cell manufacturer’s stock valued at $112,000 after acquiring an additional 1,845 shares during the last quarter. Rhumbline Advisers increased its stake in First Solar by 39.0% in the fourth quarter. Rhumbline Advisers now owns 196,129 shares of the solar cell manufacturer’s stock valued at $8,327,000 after purchasing an additional 55,024 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of First Solar by 4.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,639 shares of the solar cell manufacturer’s stock valued at $282,000 after acquiring an additional 300 shares in the last quarter. ETF Managers Group LLC boosted its holdings in First Solar by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 1,828 shares of the solar cell manufacturer’s stock worth $78,000 after buying an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of First Solar in the fourth quarter valued at approximately $2,124,000. 61.95% of the stock is owned by institutional investors.
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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