First Solar (NASDAQ:FSLR) Downgraded by StockNews.com to “Sell”

First Solar (NASDAQ:FSLR) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities research analysts also recently issued reports on the company. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Tuesday. William Blair started coverage on First Solar in a research note on Thursday, August 29th. They set a “market perform” rating for the company. The Goldman Sachs Group cut their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday. Oppenheimer increased their price objective on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Trading Down 1.5 %

First Solar stock traded down $3.02 during midday trading on Thursday, hitting $194.48. 2,856,453 shares of the stock were exchanged, compared to its average volume of 2,425,465. The stock has a market capitalization of $20.82 billion, a PE ratio of 16.75, a P/E/G ratio of 0.34 and a beta of 1.44. The company has a fifty day simple moving average of $222.68 and a two-hundred day simple moving average of $223.93. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $2.50 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that First Solar will post 13.39 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock worth $2,405,757 over the last quarter. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FSLR. JNBA Financial Advisors grew its position in shares of First Solar by 6.0% in the third quarter. JNBA Financial Advisors now owns 3,086 shares of the solar cell manufacturer’s stock valued at $770,000 after purchasing an additional 175 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in First Solar in the 3rd quarter valued at $216,000. Quintet Private Bank Europe S.A. acquired a new position in First Solar in the 3rd quarter valued at $312,000. QRG Capital Management Inc. grew its holdings in First Solar by 29.2% in the 3rd quarter. QRG Capital Management Inc. now owns 2,307 shares of the solar cell manufacturer’s stock valued at $576,000 after buying an additional 522 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of First Solar by 2.2% during the third quarter. Asset Management One Co. Ltd. now owns 41,934 shares of the solar cell manufacturer’s stock worth $10,460,000 after buying an additional 904 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.