First Solar (FSLR) Now Covered by Barclays

Barclays started coverage on shares of First Solar (NASDAQ:FSLR) in a report issued on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $63.00 price target on the solar cell manufacturer’s stock.

Several other analysts also recently commented on FSLR. BidaskClub downgraded shares of First Solar from a sell rating to a strong sell rating in a research report on Wednesday, September 12th. Zacks Investment Research downgraded shares of First Solar from a hold rating to a sell rating in a research report on Wednesday, September 26th. Vertical Group raised shares of First Solar from a sell rating to a hold rating in a research report on Thursday, October 25th. JMP Securities raised shares of First Solar from an underperform rating to a market perform rating in a research report on Friday, October 26th. They noted that the move was a valuation call. Finally, Roth Capital set a $65.00 price objective on shares of First Solar and gave the company a buy rating in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $65.47.

Shares of First Solar stock traded down $0.54 during trading on Monday, hitting $47.20. The company’s stock had a trading volume of 28,204 shares, compared to its average volume of 1,555,549. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.48 and a quick ratio of 4.14. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.17 and a beta of 1.22. First Solar has a 52 week low of $36.51 and a 52 week high of $81.72.



First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. The company had revenue of $676.22 million during the quarter, compared to analyst estimates of $683.93 million. On average, equities analysts anticipate that First Solar will post 1.51 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in FSLR. Luminus Management LLC boosted its holdings in shares of First Solar by 5,435.8% during the 2nd quarter. Luminus Management LLC now owns 1,292,562 shares of the solar cell manufacturer’s stock valued at $68,067,000 after acquiring an additional 1,269,213 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Solar by 27.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,484,220 shares of the solar cell manufacturer’s stock valued at $71,866,000 after acquiring an additional 315,144 shares during the last quarter. Pictet Asset Management Ltd. purchased a new stake in shares of First Solar during the 3rd quarter valued at about $13,242,000. DNB Asset Management AS boosted its holdings in shares of First Solar by 60.2% during the 3rd quarter. DNB Asset Management AS now owns 342,848 shares of the solar cell manufacturer’s stock valued at $16,601,000 after acquiring an additional 128,806 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of First Solar during the 3rd quarter valued at about $6,208,000. 51.95% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components 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.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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