First Solar (NASDAQ:FSLR) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of First Solar (NASDAQ:FSLR) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

FSLR has been the subject of a number of other reports. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Mizuho decreased their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Evercore ISI dropped their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Tuesday, October 29th. Finally, Roth Mkm reduced their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Trading Down 0.1 %

NASDAQ:FSLR opened at $186.21 on Wednesday. The company has a 50-day moving average price of $194.84 and a 200-day moving average price of $218.56. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.35 and a beta of 1.46. First Solar has a 12 month low of $135.88 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) 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 net margin of 32.41% and a return on equity of 17.56%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $2.50 earnings per share. Equities analysts predict that First Solar will post 13.15 EPS for the current year.

Institutional Trading of First Solar

Large investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its stake in First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after purchasing an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in First Solar by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after acquiring an additional 49 shares during the period. Gilman Hill Asset Management LLC increased its holdings in shares of First Solar by 2.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after purchasing an additional 50 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

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.