First Solar (NASDAQ:FSLR) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday. The firm presently has a $82.00 price target on the solar cell manufacturer’s stock, up from their previous price target of $69.00. Robert W. Baird’s price objective points to a potential upside of 17.11% from the company’s current price.
Several other research analysts also recently commented on the company. JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a report on Wednesday, August 16th. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $47.67 target price on the stock in a report on Wednesday, August 16th. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a report on Wednesday, August 30th. Bank of America reaffirmed a “buy” rating and set a $64.00 target price on shares of First Solar in a report on Tuesday, August 29th. Finally, ValuEngine downgraded First Solar from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. First Solar presently has a consensus rating of “Hold” and an average price target of $59.47.
Shares of First Solar (NASDAQ:FSLR) opened at $70.02 on Monday. 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 has a twelve month low of $25.56 and a twelve month high of $70.27. The firm has a market capitalization of $7,312.40, a price-to-earnings ratio of 17.16 and a beta of 2.03.
In other news, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.
Several hedge funds have recently bought and sold shares of FSLR. Fiduciary Trust Co. bought a new position in shares of First Solar in the 2nd quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of First Solar by 64.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 1,716 shares in the last quarter. Garner Asset Management Corp bought a new position in shares of First Solar in the 2nd quarter worth about $208,000. World Asset Management Inc bought a new position in shares of First Solar in the 2nd quarter worth about $221,000. Finally, Riverhead Capital Management LLC increased its position in First Solar by 82.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after buying an additional 2,560 shares in the last quarter. 51.21% of the stock is 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.
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