ValuEngine Downgrades First Solar (FSLR) to Buy
First Solar (NASDAQ:FSLR) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Several other analysts have also issued reports on the company. Axiom Securities restated a “buy” rating on shares of First Solar in a research note on Wednesday, August 30th. Bank of America restated a “buy” rating and issued a $64.00 price objective on shares of First Solar in a research note on Tuesday, August 29th. Vetr upgraded First Solar from a “buy” rating to a “strong-buy” rating and set a $54.35 price objective on the stock in a research note on Wednesday, October 25th. Deutsche Bank upgraded First Solar from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Finally, Zacks Investment Research lowered First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 13th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. First Solar presently has a consensus rating of “Hold” and an average price target of $53.84.
Shares of First Solar (NASDAQ FSLR) opened at $60.30 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. The stock has a market capitalization of $6,300.00, a P/E ratio of 15.23 and a beta of 1.99. First Solar has a 52 week low of $25.56 and a 52 week high of $63.10.
A number of large investors have recently modified their holdings of the stock. Energy Opportunities Capital Management LLC acquired a new stake in First Solar during the third quarter worth approximately $1,250,000. GSA Capital Partners LLP acquired a new stake in First Solar during the third quarter worth approximately $488,000. Cetera Advisors LLC grew its position in First Solar by 16.0% during the third quarter. Cetera Advisors LLC now owns 7,963 shares of the solar cell manufacturer’s stock worth $365,000 after buying an additional 1,100 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in First Solar during the third quarter worth approximately $1,519,000. Finally, Vident Investment Advisory LLC acquired a new stake in First Solar during the third quarter worth approximately $2,720,000. 51.17% of the stock is currently owned by institutional investors and hedge funds.
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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