StockNews.com Upgrades First Solar (NASDAQ:FSLR) to Hold

StockNews.com upgraded shares of First Solar (NASDAQ:FSLR) from a sell rating to a hold rating in a report issued on Thursday.

A number of other equities analysts also recently commented on FSLR. Seaport Res Ptn raised shares of First Solar to a “hold” rating in a research note on Tuesday, November 5th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Morgan Stanley dropped their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Bank of America decreased their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Trading Down 0.0 %

Shares of FSLR stock opened at $186.43 on Thursday. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The firm’s 50-day simple moving average is $192.46 and its 200-day simple moving average is $213.71. The firm has a market cap of $19.96 billion, a P/E ratio of 16.06, a PEG ratio of 0.35 and a beta of 1.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted 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 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that First Solar will post 13.15 EPS for the current year.

Institutional Investors Weigh In On First Solar

Large investors have recently made changes to their positions in the company. Electron Capital Partners LLC raised its holdings in First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after buying an additional 516,783 shares in the last quarter. Merewether Investment Management LP lifted its holdings in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after acquiring an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of First Solar during the 3rd quarter valued at about $67,652,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

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.