First Solar (NASDAQ:FSLR) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of First Solar (NASDAQ:FSLR) from a hold rating to a sell rating in a research note released on Thursday morning.

A number of other equities research analysts also recently issued reports on the stock. UBS Group boosted their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Susquehanna dropped their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Bank of America reduced their target price on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Evercore ISI dropped their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Stock Performance

Shares of FSLR opened at $204.94 on Thursday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The company’s 50 day simple moving average is $221.68 and its 200 day simple moving average is $224.28. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. On average, sell-side analysts predict that First Solar will post 13.12 EPS for the current year.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 in the last three months. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Large investors have recently added to or reduced their stakes in the company. Sigma Planning Corp increased its stake in First Solar by 4.8% during the third quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock valued at $362,000 after purchasing an additional 67 shares during the last quarter. Covestor Ltd boosted its holdings in shares of First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after buying an additional 55 shares during the period. Atria Investments Inc grew its position in shares of First Solar by 24.7% during the 3rd quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer’s stock valued at $618,000 after buying an additional 490 shares during the last quarter. Field & Main Bank raised its stake in First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after acquiring an additional 55 shares during the period. Finally, Demars Financial Group LLC lifted its holdings in First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after acquiring an additional 56 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.