Several other equities analysts have also issued reports on FSLR. JMP Securities upgraded First Solar from a market perform rating to an outperform rating and set a $70.00 target price on the stock in a research note on Monday, October 28th. ValuEngine lowered First Solar from a hold rating to a sell rating in a research note on Tuesday, December 3rd. Cowen set a $83.00 target price on First Solar and gave the company a buy rating in a research note on Friday, October 25th. JPMorgan Chase & Co. set a $82.00 target price on First Solar and gave the company a buy rating in a research note on Tuesday, October 15th. Finally, Zacks Investment Research lowered First Solar from a hold rating to a strong sell rating and set a $49.00 target price on the stock. in a research note on Friday, January 3rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. First Solar has a consensus rating of Hold and a consensus price target of $69.27.
Shares of FSLR stock traded down $0.41 on Friday, hitting $53.52. The stock had a trading volume of 1,760,464 shares, compared to its average volume of 1,257,047. The company has a quick ratio of 3.24, a current ratio of 4.00 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $55.83 and a 200 day moving average price of $59.29. The company has a market cap of $5.68 billion, a PE ratio of -1,338.00, a P/E/G ratio of 0.78 and a beta of 1.30. First Solar has a one year low of $45.77 and a one year high of $69.24.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 24th. The solar cell manufacturer reported $0.29 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.77). First Solar had a negative net margin of 0.14% and a negative return on equity of 0.07%. The firm had revenue of $547.00 million during the quarter, compared to the consensus estimate of $995.41 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s revenue was down 19.1% compared to the same quarter last year. Equities research analysts expect that First Solar will post 2.52 EPS for the current year.
In other news, insider Georges Antoun sold 8,476 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $56.98, for a total transaction of $482,962.48. Following the sale, the insider now owns 38,718 shares in the company, valued at $2,206,151.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Raffi Garabedian sold 16,370 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $53.18, for a total value of $870,556.60. Following the sale, the chief technology officer now owns 190 shares in the company, valued at approximately $10,104.20. The disclosure for this sale can be found here. Insiders sold 58,289 shares of company stock worth $3,179,809 in the last quarter. 0.72% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of First Solar by 273.0% during the 2nd quarter. Invesco Ltd. now owns 2,686,374 shares of the solar cell manufacturer’s stock worth $176,441,000 after buying an additional 1,966,171 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of First Solar during the 2nd quarter worth approximately $34,160,000. Assenagon Asset Management S.A. acquired a new position in shares of First Solar during the 4th quarter worth approximately $15,067,000. Point72 Asset Management L.P. raised its stake in shares of First Solar by 51.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 562,500 shares of the solar cell manufacturer’s stock worth $32,631,000 after buying an additional 191,709 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of First Solar by 163.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 221,131 shares of the solar cell manufacturer’s stock worth $12,828,000 after buying an additional 137,203 shares during the period. Institutional investors and hedge funds own 61.30% of the company’s stock.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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