First Solar (NASDAQ:FSLR) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of First Solar (NASDAQ:FSLR) from a hold rating to a sell rating in a report published on Wednesday morning.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group decreased their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Barclays lowered their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. Guggenheim lowered their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada lowered their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Trading Down 0.1 %

Shares of NASDAQ FSLR opened at $186.21 on Wednesday. The company has a 50-day moving average of $194.84 and a two-hundred day moving average of $218.56. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market cap of $19.94 billion, a PE ratio of 16.04, a P/E/G ratio of 0.35 and a beta of 1.46. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. 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 previous year, the business earned $2.50 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts expect that First Solar will post 13.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new stake in First Solar in the third quarter worth about $18,406,000. Franklin Resources Inc. boosted its holdings in First Solar by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock valued at $32,835,000 after purchasing an additional 12,439 shares during the period. Peapack Gladstone Financial Corp increased its stake in First Solar by 33.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock worth $6,125,000 after acquiring an additional 6,135 shares during the last quarter. Blankinship & Foster LLC bought a new stake in First Solar during the third quarter valued at approximately $935,000. Finally, Morse Asset Management Inc lifted its holdings in shares of First Solar by 10.7% during the 3rd quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock worth $3,105,000 after acquiring an additional 1,199 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

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.