First Solar (NASDAQ:FSLR) Upgraded by Sanford C. Bernstein to Strong Sell Rating

First Solar (NASDAQ:FSLR) was upgraded by investment analysts at Sanford C. Bernstein to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Glj Research lowered First Solar from a “buy” rating to a “hold” rating and cut their target price for the company from $314.43 to $207.82 in a research note on Wednesday, March 4th. The Goldman Sachs Group lifted their target price on First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. DZ Bank upgraded First Solar to a “strong sell” rating in a research note on Thursday, February 26th. Royal Bank Of Canada cut their target price on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Susquehanna cut their target price on First Solar from $280.00 to $250.00 and set a “positive” rating on the stock in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $249.78.

First Solar Stock Performance

FSLR stock opened at $254.80 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $236.08 and its two-hundred day simple moving average is $233.38. First Solar has a twelve month low of $139.26 and a twelve month high of $320.95. The firm has a market cap of $27.38 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.58 and a beta of 1.71.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.95 earnings per share. Analysts predict that First Solar will post 17.61 earnings per share for the current year.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the transaction, the insider directly owned 4,967 shares in the company, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of First Solar stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $90,564.60. Following the transaction, the chief technology officer owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. This represents a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is owned by insiders.

Institutional Trading of First Solar

A number of institutional investors and hedge funds have recently made changes to their positions in FSLR. Aventura Private Wealth LLC purchased a new stake in shares of First Solar during the fourth quarter worth approximately $25,000. Reflection Asset Management purchased a new stake in shares of First Solar during the fourth quarter worth approximately $26,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of First Solar during the fourth quarter worth approximately $26,000. Larson Financial Group LLC increased its position in shares of First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of First Solar during the fourth quarter worth approximately $30,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.