First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Analysts
First Solar, Inc. (NASDAQ:FSLR – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and twenty-one have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $233.81.
A number of equities research analysts have issued reports on FSLR shares. BNP Paribas assumed coverage on shares of First Solar in a research report on Friday, October 20th. They issued an “outperform” rating and a $237.00 price objective for the company. StockNews.com initiated coverage on shares of First Solar in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Barclays raised shares of First Solar from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $230.00 to $224.00 in a research note on Thursday, October 12th. Citigroup lowered their target price on shares of First Solar from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 18th. Finally, Robert W. Baird upped their price target on shares of First Solar from $229.00 to $246.00 in a report on Friday, September 8th.
Read Our Latest Stock Report on First Solar
Insider Buying and Selling at First Solar
In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $144.16, for a total transaction of $233,683.36. Following the completion of the sale, the insider now directly owns 1,621 shares in the company, valued at $233,683.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Alexander R. Bradley sold 5,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $158.23, for a total transaction of $791,150.00. Following the completion of the sale, the chief financial officer now directly owns 30,419 shares in the company, valued at $4,813,198.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $144.16, for a total transaction of $233,683.36. Following the sale, the insider now owns 1,621 shares of the company’s stock, valued at $233,683.36. The disclosure for this sale can be found here. Insiders sold a total of 9,021 shares of company stock worth $1,404,033 over the last three months. Company insiders own 0.58% of the company’s stock.
Institutional Trading of First Solar
A number of institutional investors have recently modified their holdings of FSLR. First Pacific Financial purchased a new stake in First Solar in the third quarter worth about $27,000. Estabrook Capital Management purchased a new stake in First Solar in the third quarter worth about $29,000. Harbor Investment Advisory LLC purchased a new stake in First Solar in the third quarter worth about $32,000. Covestor Ltd lifted its holdings in First Solar by 97.7% in the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock worth $35,000 after buying an additional 208 shares during the period. Finally, RVW Wealth LLC purchased a new stake in First Solar in the third quarter worth about $36,000. 82.08% of the stock is currently owned by hedge funds and other institutional investors.
First Solar Price Performance
Shares of NASDAQ FSLR opened at $145.38 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.45 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $150.04 and its 200-day moving average price is $175.37. The firm has a market capitalization of $15.53 billion, a P/E ratio of 32.89 and a beta of 1.40. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00.
First Solar (NASDAQ:FSLR – Get Free Report) last posted its earnings results on Tuesday, October 31st. The solar cell manufacturer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.09 by $0.41. The company had revenue of $801.09 million during the quarter, compared to the consensus estimate of $904.11 million. First Solar had a net margin of 14.99% and a return on equity of 8.35%. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.46) earnings per share. Equities research analysts anticipate that First Solar will post 8.01 earnings per share for the current fiscal year.
About First Solar (Get Free Report
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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