First Solar (FSLR) Downgraded by Vetr to Sell

Vetr cut shares of First Solar (NASDAQ:FSLR) from a hold rating to a sell rating in a research note issued to investors on Monday. Vetr currently has $65.52 price target on the solar cell manufacturer’s stock.

A number of other analysts have also recently issued reports on FSLR. Zacks Investment Research cut shares of First Solar from a strong-buy rating to a hold rating in a research note on Friday, October 13th. Robert W. Baird reiterated a hold rating and issued a $53.00 price objective on shares of First Solar in a research note on Friday, October 27th. Needham & Company LLC upgraded shares of First Solar from a hold rating to a buy rating and set a $60.00 price objective for the company in a research note on Friday, October 27th. Roth Capital set a $60.00 price objective on shares of First Solar and gave the stock a buy rating in a research note on Monday, October 30th. Finally, Goldman Sachs Group reiterated a neutral rating and issued a $65.00 price objective (up previously from $50.00) on shares of First Solar in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $65.40.

Shares of First Solar (NASDAQ:FSLR) opened at $63.50 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The stock has a market cap of $6,938.53, a PE ratio of -14.50 and a beta of 2.09. First Solar has a 12 month low of $25.56 and a 12 month high of $76.61.

In other news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Raffi Garabedian sold 11,284 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the completion of the transaction, the insider now owns 9,227 shares of the company’s stock, valued at $646,443.62. The disclosure for this sale can be found here. Insiders sold a total of 46,858 shares of company stock valued at $3,134,015 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Several large investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. acquired a new position in shares of First Solar in the 4th quarter valued at approximately $101,000. First Mercantile Trust Co. acquired a new position in shares of First Solar in the 4th quarter valued at approximately $205,000. Zevin Asset Management LLC raised its position in shares of First Solar by 28.6% in the 4th quarter. Zevin Asset Management LLC now owns 32,935 shares of the solar cell manufacturer’s stock valued at $2,224,000 after buying an additional 7,315 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of First Solar in the 4th quarter valued at approximately $238,000. Finally, US Bancorp DE raised its position in shares of First Solar by 5.8% in the 4th quarter. US Bancorp DE now owns 34,540 shares of the solar cell manufacturer’s stock valued at $2,332,000 after buying an additional 1,887 shares in the last quarter. Institutional investors own 50.74% of the company’s stock.

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About First Solar

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.

To view Vetr’s full report, visit Vetr’s official website.

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