Vetr Lowers First Solar (FSLR) to Strong Sell

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.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $1.11. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The business’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. sell-side analysts forecast that First Solar will post 2.52 earnings per share for the current year.

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.

TRADEMARK VIOLATION NOTICE: “Vetr Lowers First Solar (FSLR) to Strong Sell” was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://sportsperspectives.com/2018/01/15/vetr-lowers-first-solar-fslr-to-strong-sell.html.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply