First Solar (NASDAQ:FSLR) Stock Rating Lowered by ValuEngine

First Solar (NASDAQ:FSLR) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other equities analysts have also commented on the stock. Robert W. Baird set a $80.00 price target on shares of First Solar and gave the stock a “buy” rating in a report on Friday, October 25th. JMP Securities upgraded First Solar from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Monday, October 28th. Barclays set a $72.00 target price on First Solar and gave the stock a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research lowered First Solar from a “hold” rating to a “strong sell” rating and set a $59.00 target price for the company. in a research report on Monday, October 21st. Finally, Cfra downgraded First Solar from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.92.

NASDAQ FSLR traded down $0.37 during trading hours on Tuesday, reaching $54.35. The company’s stock had a trading volume of 1,018,466 shares, compared to its average volume of 1,313,296. The firm has a fifty day simple moving average of $53.98 and a 200-day simple moving average of $60.40. The stock has a market cap of $5.73 billion, a P/E ratio of 39.96, a P/E/G ratio of 0.98 and a beta of 1.32. First Solar has a 52 week low of $38.45 and a 52 week high of $69.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.00 and a quick ratio of 3.24.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 24th. The solar cell manufacturer reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.77). First Solar had a negative return on equity of 0.07% and a negative net margin of 0.14%. The business had revenue of $547.00 million for the quarter, compared to the consensus estimate of $995.41 million. During the same period in the previous year, the firm earned $0.54 earnings per share. The company’s revenue was down 19.1% compared to the same quarter last year. On average, research analysts expect that First Solar will post 2.44 earnings per share for the current year.

In other news, COO Philip Dejong sold 11,491 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.25, for a total value of $634,877.75. Following the completion of the sale, the chief operating officer now directly owns 9,541 shares in the company, valued at approximately $527,140.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Georges Antoun sold 8,476 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $59.09, for a total value of $500,846.84. Following the completion of the sale, the insider now directly owns 65,134 shares of the company’s stock, valued at approximately $3,848,768.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,289 shares of company stock valued at $2,930,843. Corporate insiders own 0.72% of the company’s stock.

Several large investors have recently bought and sold shares of FSLR. BlackRock Inc. lifted its position in shares of First Solar by 0.3% during the 2nd quarter. BlackRock Inc. now owns 8,026,714 shares of the solar cell manufacturer’s stock worth $527,195,000 after buying an additional 27,718 shares in the last quarter. Invesco Ltd. grew its stake in First Solar by 273.0% in the 2nd quarter. Invesco Ltd. now owns 2,686,374 shares of the solar cell manufacturer’s stock valued at $176,441,000 after buying an additional 1,966,171 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of First Solar by 40.5% in the second quarter. Bank of New York Mellon Corp now owns 2,304,211 shares of the solar cell manufacturer’s stock valued at $151,340,000 after purchasing an additional 664,729 shares in the last quarter. State Street Corp raised its stake in shares of First Solar by 0.7% during the 3rd quarter. State Street Corp now owns 2,025,290 shares of the solar cell manufacturer’s stock valued at $117,487,000 after purchasing an additional 13,585 shares during the period. Finally, Polunin Capital Partners Ltd lifted its holdings in First Solar by 2.2% during the 3rd quarter. Polunin Capital Partners Ltd now owns 924,453 shares of the solar cell manufacturer’s stock worth $53,627,000 after purchasing an additional 20,100 shares in the last quarter. 61.10% of the stock is owned by institutional investors.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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