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.
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.
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