First Solar, Inc. (NASDAQ:FSLR – Get Free Report)’s share price was up 4.7% during mid-day trading on Wednesday after Susquehanna raised their price target on the stock from $258.00 to $285.00. Susquehanna currently has a positive rating on the stock. First Solar traded as high as $230.99 and last traded at $226.92. Approximately 1,677,258 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 2,495,901 shares. The stock had previously closed at $216.73.
Several other brokerages have also issued reports on FSLR. Barclays boosted their price target on First Solar from $227.00 to $228.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Tuesday, April 23rd. Roth Mkm reaffirmed a “buy” rating and set a $320.00 target price (up from $230.00) on shares of First Solar in a research report on Friday, May 31st. Finally, The Goldman Sachs Group upped their target price on First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus target price of $267.12.
Get Our Latest Stock Report on First Solar
Insider Buying and Selling at First Solar
Institutional Trading of First Solar
Institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Trust Co. raised its holdings in shares of First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after buying an additional 50 shares in the last quarter. Great Diamond Partners LLC raised its holdings in shares of First Solar by 3.8% during the 1st quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after buying an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock worth $70,000 after acquiring an additional 62 shares during the last quarter. Family Legacy Inc. grew its position in First Solar by 1.4% during the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after acquiring an additional 69 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its position in First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.
First Solar Trading Up 6.6 %
The firm has a 50-day moving average of $235.30 and a 200-day moving average of $186.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The firm has a market capitalization of $24.74 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44.
First Solar (NASDAQ:FSLR – Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same period last year, the company earned $0.40 EPS. First Solar’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities research analysts anticipate that First Solar, Inc. will post 13.58 EPS for the current fiscal year.
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.
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