First Solar (FSLR) Receives New Coverage from Analysts at Vertical Group

Vertical Group initiated coverage on shares of First Solar (NASDAQ:FSLR) in a research report sent to investors on Thursday. The brokerage issued a buy rating on the solar cell manufacturer’s stock.

A number of other equities analysts also recently commented on the stock. BidaskClub downgraded shares of First Solar from a strong-buy rating to a buy rating in a research note on Saturday, January 6th. Vetr downgraded shares of First Solar from a hold rating to a sell rating and set a $66.83 target price on the stock. in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of First Solar from a hold rating to a buy rating and set a $76.00 target price on the stock in a research note on Tuesday, January 2nd. ValuEngine raised shares of First Solar from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Roth Capital set a $80.00 price target on shares of First Solar and gave the company a buy rating in a research report on Monday, December 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. First Solar has a consensus rating of Hold and a consensus target price of $63.13.

Shares of First Solar (NASDAQ:FSLR) traded down $2.86 during mid-day trading on Thursday, reaching $73.41. 4,033,500 shares of the company’s stock were exchanged, compared to its average volume of 2,434,089. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar has a one year low of $25.56 and a one year high of $76.61. The stock has a market capitalization of $7,670.00, a P/E ratio of -17.65 and a beta of 2.04.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, topping 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 company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. During the same period in the previous year, the firm earned $1.22 earnings per share. First Solar’s quarterly revenue was up 59.5% compared to the same quarter last year. analysts anticipate that First Solar will post 2.52 earnings per share for the current fiscal year.

In related news, COO Philip Dejong sold 15,304 shares of First Solar stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total value of $1,038,070.32. Following the completion of the transaction, the chief operating officer now owns 10,424 shares in the company, valued at $707,059.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,858 shares of company stock valued at $3,134,015. Company insiders own 0.58% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Fiduciary Trust Co. acquired a new position in shares of First Solar in the second quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Solar by 64.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after purchasing an additional 1,716 shares in the last quarter. Garner Asset Management Corp acquired a new position in shares of First Solar in the second quarter valued at approximately $208,000. Riverhead Capital Management LLC grew its holdings in shares of First Solar by 82.6% in the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after purchasing an additional 2,560 shares in the last quarter. Finally, B. Riley Financial Inc. acquired a new position in shares of First Solar in the third quarter valued at approximately $265,000. Hedge funds and other institutional investors own 50.88% of the company’s stock.

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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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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