JPMorgan Chase & Co. set a $82.00 price target on First Solar (NASDAQ:FSLR) in a research note issued to investors on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.
Other equities research analysts have also recently issued reports about the company. BidaskClub raised First Solar from a sell rating to a hold rating in a research note on Tuesday, September 24th. UBS Group lifted their price objective on First Solar to $80.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Robert W. Baird reaffirmed a buy rating on shares of First Solar in a research note on Monday, September 9th. Barclays reaffirmed a buy rating on shares of First Solar in a research note on Friday, August 2nd. Finally, ValuEngine cut First Solar from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $70.11.
NASDAQ FSLR opened at $56.82 on Tuesday. The stock has a fifty day moving average of $61.75 and a 200-day moving average of $61.50. The stock has a market capitalization of $5.97 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.26. First Solar has a 52 week low of $36.51 and a 52 week high of $69.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.05.
First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, August 1st. The solar cell manufacturer reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). The firm had revenue of $585.00 million during the quarter, compared to analyst estimates of $656.80 million. First Solar had a net margin of 0.95% and a return on equity of 0.46%. The firm’s quarterly revenue was up 89.3% on a year-over-year basis. During the same period last year, the business posted ($0.46) earnings per share. Equities research analysts forecast that First Solar will post 2.37 earnings per share for the current fiscal year.
In other First Solar news, insider Georges Antoun sold 8,476 shares of First Solar stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $59.09, for a total transaction of $500,846.84. Following the transaction, the insider now directly owns 65,134 shares in the company, valued at $3,848,768.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Craig Kennedy sold 1,800 shares of First Solar stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $62.55, for a total value of $112,590.00. Following the transaction, the director now owns 25,805 shares in the company, valued at $1,614,102.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,665 shares of company stock valued at $4,068,284. 0.72% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Meridian Wealth Management LLC bought a new position in First Solar during the second quarter worth about $25,000. NumerixS Investment Technologies Inc bought a new position in First Solar during the second quarter worth about $79,000. Destination Wealth Management bought a new position in First Solar during the second quarter worth about $91,000. Point72 Hong Kong Ltd bought a new position in First Solar during the second quarter worth about $91,000. Finally, Tower Research Capital LLC TRC lifted its holdings in First Solar by 446.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,077 shares of the solar cell manufacturer’s stock worth $136,000 after acquiring an additional 1,697 shares in the last quarter. Hedge funds and other institutional investors own 62.22% 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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