First Solar (NASDAQ:FSLR) Stock Rating Upgraded by William Blair

First Solar (NASDAQ:FSLR) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a report issued on Thursday, MarketBeat reports.

Other equities research analysts have also recently issued research reports about the stock. Roth Capital reaffirmed a “buy” rating and issued a $300.00 price target on shares of First Solar in a research report on Friday, July 24th. Weiss Ratings lowered shares of First Solar from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of First Solar in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, HC Wainwright began coverage on First Solar in a research report on Thursday, August 27th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $257.38.

First Solar Stock Up 2.7%

NASDAQ:FSLR traded up $5.38 during midday trading on Thursday, hitting $201.14. The stock had a trading volume of 4,117,355 shares, compared to its average volume of 2,151,672. The stock has a 50-day moving average of $186.99 and a 200 day moving average of $214.96. The company has a market capitalization of $21.62 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.50 and a beta of 1.73. First Solar has a one year low of $165.86 and a one year high of $320.95.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $4.24 EPS. First Solar’s revenue was down 22.8% on a year-over-year basis. On average, sell-side analysts anticipate that First Solar will post 17.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Samantha Sloan sold 127 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total transaction of $28,314.65. Following the transaction, the executive vice president directly owned 2,018 shares of the company’s stock, valued at approximately $449,913.10. This represents a 5.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 800 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total value of $139,200.00. Following the transaction, the chief technology officer directly owned 5,042 shares in the company, valued at approximately $877,308. The trade was a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,427 shares of company stock valued at $1,250,221. 0.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in First Solar in the 2nd quarter worth approximately $3,310,298,000. Hill City Capital LP acquired a new stake in shares of First Solar during the second quarter worth $620,133,555. Deutsche Bank AG purchased a new stake in shares of First Solar during the second quarter valued at $212,626,000. Bank of America Corp DE purchased a new stake in shares of First Solar during the second quarter valued at $171,043,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of First Solar during the second quarter valued at $164,962,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: William Blair raised its rating on First Solar from “market perform” to “outperform.” The firm sees Democratic gains as potentially supporting utility-scale solar projects, although new bookings may take time to materialize. First Solar raised at William Blair as Democrat Congress seen boosting support
• Positive Sentiment: First Solar announced a $500 million share repurchase program and opened a manufacturing facility in Gaffney, South Carolina, expanding its U.S. production footprint and adding regional jobs. Democratic Sweep Could Be A Big Deal For First Solar Stock First Solar Opens South Carolina Plant
• Negative Sentiment: The company lowered its full-year net sales and module-shipment outlook. Its third-quarter results were mixed: EPS beat expectations, but revenue fell short of estimates and was down year over year, which may temper the positive policy and buyback news. Democratic Sweep Could Be A Big Deal For First Solar Stock

First Solar Company Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.