First Solar, Inc. (NASDAQ:FSLR) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $48.80 price target on the solar cell manufacturer’s stock. Vetr‘s target price would suggest a potential upside of 2.78% from the company’s current price.

FSLR has been the subject of several other reports. Cowen and Company set a $40.00 target price on First Solar and gave the company a “buy” rating in a report on Monday, July 10th. Axiom Securities restated a “buy” rating on shares of First Solar in a report on Thursday, August 10th. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Deutsche Bank AG set a $47.00 target price on First Solar and gave the company a “hold” rating in a report on Wednesday, July 19th. Finally, ValuEngine cut First Solar from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $44.74.

First Solar (NASDAQ FSLR) opened at 47.48 on Monday. The company’s market capitalization is $4.96 billion. First Solar has a 12 month low of $25.56 and a 12 month high of $50.21. The stock’s 50 day moving average price is $47.52 and its 200-day moving average price is $37.81.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) 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 firm had revenue of $623.00 million during the quarter, compared to analysts’ expectations of $591.55 million. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was down 38.7% compared to the same quarter last year. On average, equities research analysts predict that First Solar will post $2.11 EPS for the current fiscal year.

WARNING: “First Solar, Inc. (FSLR) Stock Rating Upgraded by Vetr Inc.” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/13/first-solar-inc-fslr-stock-rating-upgraded-by-vetr-inc.html.

In related news, insider Bryan Robert Schumaker sold 1,235 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $40.00, for a total transaction of $49,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raffi Garabedian sold 5,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.83, for a total value of $289,014.00. Following the transaction, the insider now directly owns 11,474 shares of the company’s stock, valued at approximately $571,749.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,909 shares of company stock valued at $4,705,246. 0.58% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in First Solar by 7,977.6% during the 1st quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock valued at $187,601,000 after buying an additional 6,836,843 shares in the last quarter. Vanguard Group Inc. increased its position in First Solar by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after buying an additional 243,787 shares in the last quarter. Wellington Management Group LLP increased its position in First Solar by 28.8% during the 1st quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock valued at $82,356,000 after buying an additional 679,898 shares in the last quarter. Dimensional Fund Advisors LP increased its position in First Solar by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock valued at $74,715,000 after buying an additional 158,896 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in First Solar by 12,600.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after buying an additional 1,666,064 shares in the last quarter. 53.61% of the stock is owned by institutional investors.

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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Stock Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related stocks with our FREE daily email newsletter.