First Solar (NASDAQ:FSLR) Receiving Somewhat Critical Media Coverage, Study Shows
Media headlines about First Solar (NASDAQ:FSLR) have trended somewhat negative on Thursday, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. First Solar earned a news sentiment score of 0.00 on Accern’s scale. Accern also gave headlines about the solar cell manufacturer an impact score of 17 out of 100, meaning that recent news coverage is very unlikely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- First Solar Posts Positive Earnings in Face of ITC Investigation of Suniva (nasdaq.com)
- Franklin Resources Increased First Solar (FSLR) Holding; Citigroup Has 1.12 Sentiment (newstrendstoday.com)
- SunPower (SPWR) Q2 Loss Narrower than Expected, Sales Fall (finance.yahoo.com)
- Is It Time to Take Solar Profits? (finance.yahoo.com)
- This solar stock is down big today and it’s not First Solar (finance.yahoo.com)
First Solar (NASDAQ FSLR) traded down 2.73% during trading on Thursday, hitting $47.30. The stock had a trading volume of 2,192,517 shares. First Solar has a 12 month low of $25.56 and a 12 month high of $50.21. The stock’s market cap is $4.94 billion. The stock has a 50 day moving average price of $41.35 and a 200-day moving average price of $34.90.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.60. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The business had revenue of $623 million for the quarter, compared to analyst estimates of $591.55 million. During the same quarter in the prior year, the company earned $0.87 earnings per share. The company’s revenue was down 38.7% on a year-over-year basis. On average, equities analysts predict that First Solar will post $2.23 EPS for the current year.
Several research analysts have recently issued reports on the company. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $48.61 price objective for the company in a research note on Wednesday. Cowen and Company set a $57.00 target price on First Solar and gave the company a “buy” rating in a report on Saturday, July 29th. Barclays PLC reiterated a “buy” rating and issued a $55.00 target price on shares of First Solar in a report on Wednesday. BidaskClub cut First Solar from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Deutsche Bank AG set a $47.00 target price on First Solar and gave the stock a “hold” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $44.83.
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In related news, insider Raffi Garabedian sold 5,800 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.83, for a total value of $289,014.00. Following the transaction, the insider now owns 11,474 shares of the company’s stock, valued at $571,749.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Thomas Presby bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average cost of $36.89 per share, for a total transaction of $147,560.00. Following the acquisition, the director now directly owns 17,958 shares of the company’s stock, valued at $662,470.62. The disclosure for this purchase can be found here. Insiders sold 95,011 shares of company stock worth $4,661,550 in the last three months. 0.40% of the stock is currently owned by corporate insiders.
About First Solar
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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