Vetr cut shares of First Solar (NASDAQ:FSLR) from a sell rating to a strong sell rating in a research note released on Thursday morning. Vetr currently has $65.52 price objective on the solar cell manufacturer’s stock.
FSLR has been the subject of a number of other research reports. Goldman Sachs Group reaffirmed a neutral rating and issued a $65.00 price target (up previously from $50.00) on shares of First Solar in a report on Thursday, November 30th. BidaskClub lowered shares of First Solar from a strong-buy rating to a buy rating in a research note on Saturday, January 6th. Deutsche Bank upgraded shares of First Solar from a hold rating to a buy rating and increased their price objective for the stock from $50.00 to $65.00 in a research note on Friday, September 15th. Needham & Company LLC upgraded shares of First Solar from a hold rating to a buy rating and set a $60.00 price objective on the stock in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of First Solar from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $63.13.
First Solar (NASDAQ FSLR) traded down $2.86 during midday trading on Thursday, hitting $73.41. 4,033,500 shares of the company’s stock were exchanged, compared to its average volume of 2,434,089. The stock has a market capitalization of $7,670.00, a PE ratio of -17.65 and a beta of 2.04. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $76.61. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06.
In related news, CEO Mark R. Widmar sold 20,270 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the sale, the chief executive officer now owns 100,754 shares in the company, valued at $6,488,557.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Raffi Garabedian sold 11,284 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the sale, the insider now owns 9,227 shares in the company, valued at approximately $646,443.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,858 shares of company stock worth $3,134,015. 0.58% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in FSLR. Key Square Capital Management LLC acquired a new stake in First Solar during the third quarter valued at $23,621,000. Ecofin Ltd. acquired a new stake in First Solar during the second quarter valued at $19,485,000. Lord Abbett & CO. LLC acquired a new stake in First Solar during the second quarter valued at $15,099,000. Gotham Asset Management LLC acquired a new stake in First Solar during the second quarter valued at $14,135,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in First Solar during the second quarter valued at $9,877,000. Institutional investors own 50.88% 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.
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