First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “hold” rating reissued by stock analysts at Robert W. Baird in a report issued on Friday, October 27th. They currently have a $53.00 target price on the solar cell manufacturer’s stock. Robert W. Baird’s price target would suggest a potential downside of 13.51% from the stock’s current price.
Several other equities research analysts have also commented on FSLR. Zacks Investment Research lowered shares of First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley restated an “equal weight” rating on shares of First Solar in a research report on Tuesday, July 11th. Cowen and Company set a $40.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research report on Monday, July 10th. Vetr lowered shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $47.53 price objective on the stock. in a research report on Monday, July 17th. Finally, Axiom Securities upgraded shares of First Solar from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $45.40 to $51.00 in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.61.
First Solar (NASDAQ FSLR) opened at $61.28 on Friday. First Solar has a 1-year low of $25.56 and a 1-year high of $62.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. The company has a market cap of $6,432.03, a price-to-earnings ratio of 15.10 and a beta of 1.99.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. During the same period last year, the firm posted $1.22 EPS. First Solar’s quarterly revenue was up 59.5% on a year-over-year basis. analysts predict that First Solar will post 2.47 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of First Solar by 7,977.6% in the 1st quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock valued at $187,601,000 after purchasing an additional 6,836,843 shares during the period. Schroder Investment Management Group boosted its position in shares of First Solar by 12,600.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after purchasing an additional 1,666,064 shares during the period. Key Square Capital Management LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $23,621,000. Ecofin Ltd. acquired a new position in shares of First Solar in the 2nd quarter valued at $19,485,000. Finally, Lord Abbett & CO. LLC acquired a new stake in First Solar during the 2nd quarter worth about $15,099,000. 53.55% of the stock is owned by institutional investors and hedge funds.
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.
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