First Solar, Inc. (NASDAQ:FSLR) Stock Rating Lowered by Vetr Inc.

First Solar, Inc. (NASDAQ:FSLR) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday, October 18th. They currently have a $51.52 target price on the solar cell manufacturer’s stock. Vetr‘s target price would suggest a potential downside of 16.19% from the stock’s previous close.

A number of other equities research analysts also recently commented on FSLR. Axiom Securities reissued a “buy” rating on shares of First Solar in a report on Thursday, August 10th. JMP Securities set a $67.00 price target on First Solar and gave the company a “buy” rating in a research report on Wednesday, August 16th. ValuEngine upgraded First Solar from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. BidaskClub cut First Solar from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research cut First Solar from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.61.

First Solar (NASDAQ:FSLR) traded up $1.60 during trading on Wednesday, reaching $61.47. The company’s stock had a trading volume of 3,866,000 shares, compared to its average volume of 3,183,263. First Solar has a 12 month low of $25.56 and a 12 month high of $61.47. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6,252.40, a P/E ratio of 14.67 and a beta of 1.99.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. During the same quarter last year, the company earned $1.22 earnings per share. First Solar’s quarterly revenue was up 59.5% compared to the same quarter last year. equities analysts anticipate that First Solar will post 2.53 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “First Solar, Inc. (NASDAQ:FSLR) Stock Rating Lowered by Vetr Inc.” was first published by BBNS and is the property of of BBNS. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://baseballnewssource.com/markets/first-solar-inc-fslr-downgraded-by-vetr-inc-to-buy/1722771.html.

In other news, CFO Alexander R. Bradley sold 566 shares of First Solar stock in a transaction dated Tuesday, August 8th. The stock was 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 of the company’s stock, valued at approximately $46,859.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. lifted its position in First Solar by 57.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after acquiring an additional 950 shares in the last quarter. Fiduciary Trust Co. acquired a new position in First Solar during the 2nd quarter worth approximately $128,000. NEXT Financial Group Inc lifted its position in First Solar by 23.9% during the 2nd quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 975 shares in the last quarter. Parsec Financial Management Inc. acquired a new position in First Solar during the 2nd quarter worth approximately $204,000. Finally, Garner Asset Management Corp acquired a new position in First Solar during the 2nd quarter worth approximately $208,000. 53.22% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

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 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 our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.