Shares of First Solar, Inc. (NASDAQ:FSLR) have earned an average rating of “Hold” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $68.25.
FSLR has been the topic of a number of research reports. Robert W. Baird set a $80.00 target price on shares of First Solar and gave the company a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research downgraded shares of First Solar from a “hold” rating to a “strong sell” rating and set a $49.00 target price on the stock. in a research report on Friday, January 3rd. Roth Capital set a $75.00 target price on shares of First Solar and gave the company a “buy” rating in a research report on Monday, October 21st. Cfra downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, UBS Group set a $73.00 target price on shares of First Solar and gave the company a “buy” rating in a research report on Friday, October 25th.
In other First Solar news, COO Philip Dejong sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $53.37, for a total transaction of $266,850.00. Also, insider Georges Antoun sold 8,476 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $56.98, for a total transaction of $482,962.48. Following the transaction, the insider now owns 38,718 shares in the company, valued at approximately $2,206,151.64. The disclosure for this sale can be found here. Insiders have sold a total of 41,919 shares of company stock worth $2,273,653 in the last quarter. 0.72% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. raised its holdings in First Solar by 101.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 634 shares of the solar cell manufacturer’s stock worth $35,000 after buying an additional 319 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in First Solar during the fourth quarter worth $36,000. Valeo Financial Advisors LLC acquired a new position in First Solar during the third quarter worth $43,000. Chevy Chase Trust Holdings Inc. acquired a new position in First Solar during the fourth quarter worth $43,000. Finally, Usca Ria LLC acquired a new position in First Solar during the third quarter worth $46,000. Hedge funds and other institutional investors own 61.65% of the company’s stock.
Shares of First Solar stock traded up $0.65 during trading on Friday, reaching $55.26. 651,682 shares of the company traded hands, compared to its average volume of 1,515,386. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.00 and a quick ratio of 3.24. First Solar has a 1-year low of $48.76 and a 1-year high of $69.24. The company has a 50 day moving average price of $54.02 and a 200-day moving average price of $57.34. The firm has a market capitalization of $5.56 billion, a PE ratio of -1,381.50, a P/E/G ratio of 0.91 and a beta of 1.31.
First Solar Company Profile
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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