First Solar, Inc. (FSLR) Downgraded by Standpoint Research
Standpoint Research cut shares of First Solar, Inc. (NASDAQ:FSLR) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat.com reports.
FSLR has been the subject of several other research reports. Needham & Company LLC reissued a hold rating on shares of First Solar in a report on Friday, April 7th. Credit Suisse Group AG decreased their price objective on First Solar from $29.00 to $25.00 and set an underperform rating for the company in a report on Friday, April 7th. Cowen and Company set a $40.00 price objective on First Solar and gave the stock a buy rating in a report on Monday, July 10th. Axiom Securities raised First Solar from a hold rating to a buy rating and lifted their price objective for the stock from $45.40 to $51.00 in a report on Wednesday. Finally, Zacks Investment Research downgraded First Solar from a hold rating to a sell rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $43.68.
Shares of First Solar (NASDAQ FSLR) traded down 2.42% during midday trading on Wednesday, hitting $45.15. 2,192,569 shares of the stock were exchanged. The stock’s 50-day moving average price is $39.23 and its 200-day moving average price is $34.17. The firm’s market capitalization is $4.71 billion. First Solar has a 1-year low of $25.56 and a 1-year high of $49.50.
First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.38. First Solar had a positive return on equity of 6.71% and a negative net margin of 18.14%. The firm had revenue of $891.79 million during the quarter, compared to analyst estimates of $699.15 million. On average, analysts forecast that First Solar will post $0.56 EPS for the current year.
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In related news, insider Bryan Robert Schumaker sold 2,747 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $35.00, for a total transaction of $96,145.00. Following the transaction, the insider now directly owns 1,235 shares of the company’s stock, valued at approximately $43,225. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J Thomas Presby acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average cost of $36.89 per share, for a total transaction of $147,560.00. Following the completion of the acquisition, the director now owns 17,958 shares in the company, valued at approximately $662,470.62. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia bought a new position in shares of First Solar during the first quarter worth approximately $212,000. Amica Retiree Medical Trust boosted its position in shares of First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares during the period. NEXT Financial Group Inc boosted its position in shares of First Solar by 23.9% in the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after buying an additional 975 shares during the period. LS Investment Advisors LLC boosted its position in shares of First Solar by 36.7% in the first quarter. LS Investment Advisors LLC now owns 5,275 shares of the solar cell manufacturer’s stock worth $143,000 after buying an additional 1,417 shares during the period. Finally, Trust Co. of Vermont boosted its position in shares of First Solar by 27.8% in the first quarter. Trust Co. of Vermont now owns 5,477 shares of the solar cell manufacturer’s stock worth $149,000 after buying an additional 1,190 shares during the period. 60.37% of the stock is currently owned by institutional investors.
First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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