First Solar (FSLR) Stock Rating Lowered by Vetr
First Solar (NASDAQ:FSLR) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a research report issued on Thursday. They presently have a $65.50 target price on the solar cell manufacturer’s stock. Vetr‘s target price suggests a potential downside of 4.28% from the company’s current price.
Several other brokerages also recently weighed in on FSLR. Zacks Investment Research downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 13th. Axiom Securities reissued a “buy” rating on shares of First Solar in a research report on Thursday, August 10th. Deutsche Bank raised shares of First Solar from a “hold” rating to a “buy” rating and raised their price target for the company from $50.00 to $65.00 in a research report on Friday, September 15th. Robert W. Baird reissued a “hold” rating and set a $50.00 price target on shares of First Solar in a research report on Friday, September 1st. Finally, JMP Securities set a $67.00 target price on shares of First Solar and gave the stock a “buy” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.53.
Shares of First Solar (NASDAQ:FSLR) traded up $5.19 on Thursday, hitting $68.43. 4,910,193 shares of the company traded hands, compared to its average volume of 2,789,156. The company has a market capitalization of $6,392.34, a P/E ratio of 15.00 and a beta of 2.03. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar has a 12 month low of $25.56 and a 12 month high of $68.70.
A number of large investors have recently bought and sold shares of FSLR. Fiduciary Trust Co. purchased a new position in shares of First Solar during the 2nd quarter worth $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Solar by 64.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 1,716 shares during the last quarter. Garner Asset Management Corp purchased a new position in shares of First Solar during the 2nd quarter worth $208,000. World Asset Management Inc purchased a new position in shares of First Solar during the 2nd quarter worth $221,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of First Solar by 82.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock worth $226,000 after acquiring an additional 2,560 shares during the last quarter. 51.21% of the stock is owned by institutional investors and hedge funds.
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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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