Vetr Inc. Lowers First Solar, Inc. (FSLR) to Hold

Vetr downgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a buy rating to a hold rating in a research report released on Monday morning. Vetr currently has $48.80 price objective on the solar cell manufacturer’s stock.

FSLR has been the topic of several other reports. TheStreet upgraded shares of First Solar from a d+ rating to a c rating in a report on Wednesday, July 19th. BidaskClub cut shares of First Solar from a strong-buy rating to a buy rating in a report on Thursday, August 3rd. Cowen and Company restated a buy rating and set a $57.00 price target on shares of First Solar in a report on Sunday, September 3rd. Deutsche Bank AG set a $47.00 price target on shares of First Solar and gave the company a hold rating in a report on Wednesday, July 19th. Finally, Morgan Stanley restated an equal weight rating on shares of First Solar in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $45.56.

Shares of First Solar (FSLR) opened at 48.85 on Monday. First Solar has a 12-month low of $25.56 and a 12-month high of $51.84. The firm’s market cap is $5.10 billion. The stock’s 50 day moving average price is $47.85 and its 200 day moving average price is $38.35. First Solar also was the target of some unusual options trading activity on Monday. Traders bought 15,980 put options on the stock. This represents an increase of 473% compared to the typical daily volume of 2,790 put options.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $591.55 million. During the same period in the previous year, the company posted $0.87 EPS. First Solar’s revenue was down 38.7% on a year-over-year basis. On average, equities research analysts predict that First Solar will post $2.12 EPS for the current fiscal year.

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In other news, CFO Alexander R. Bradley sold 566 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total transaction of $27,541.56. Following the completion of the transaction, the chief financial officer now owns 963 shares of the company’s stock, valued at $46,859.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 43,189 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the transaction, the chief executive officer now directly owns 107,454 shares of the company’s stock, valued at approximately $5,216,891.70. The disclosure for this sale can be found here. Insiders have sold 95,909 shares of company stock valued at $4,705,246 in the last ninety days. 0.58% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clear Harbor Asset Management LLC raised its position in shares of First Solar by 0.5% during the second quarter. Clear Harbor Asset Management LLC now owns 17,145 shares of the solar cell manufacturer’s stock valued at $716,000 after buying an additional 80 shares during the last quarter. Daiwa Securities Group Inc. raised its position in First Solar by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer’s stock worth $962,000 after purchasing an additional 125 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in First Solar by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock worth $602,000 after purchasing an additional 165 shares in the last quarter. Intellectus Partners LLC raised its position in First Solar by 1.2% in the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock worth $696,000 after purchasing an additional 200 shares in the last quarter. Finally, Amalgamated Bank raised its position in First Solar by 1.9% in the first quarter. Amalgamated Bank now owns 12,030 shares of the solar cell manufacturer’s stock worth $326,000 after purchasing an additional 225 shares in the last quarter. 53.08% of the stock is owned by institutional investors and hedge funds.

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)

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