First Solar (FSLR) Raised to Strong-Buy at Vetr

First Solar (NASDAQ:FSLR) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $65.10 price target on the solar cell manufacturer’s stock. Vetr‘s price objective suggests a potential upside of 13.67% from the company’s previous close.

FSLR has been the topic of a number of other research reports. Goldman Sachs Group reiterated a “neutral” rating and issued a $65.00 target price (up previously from $50.00) on shares of First Solar in a report on Thursday. Axiom Securities reiterated a “buy” rating on shares of First Solar in a report on Thursday, August 10th. Deutsche Bank upgraded First Solar from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $65.00 in a report on Friday, September 15th. Needham & Company LLC upgraded First Solar from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, October 2nd. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $53.91.

First Solar (FSLR) traded down $3.03 during mid-day trading on Monday, hitting $57.27. The stock had a trading volume of 4,210,456 shares, compared to its average volume of 2,760,666. First Solar has a 1-year low of $25.56 and a 1-year high of $63.10. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6,297.31, a PE ratio of 14.78 and a beta of 2.03.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $1.11. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. During the same quarter last year, the firm earned $1.22 earnings per share. The business’s revenue was up 59.5% on a year-over-year basis. sell-side analysts forecast that First Solar will post 2.47 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Energy Opportunities Capital Management LLC purchased a new position in First Solar in the third quarter valued at about $1,250,000. GSA Capital Partners LLP purchased a new position in First Solar in the third quarter valued at about $488,000. Cetera Advisors LLC raised its position in First Solar by 16.0% in the third quarter. Cetera Advisors LLC now owns 7,963 shares of the solar cell manufacturer’s stock valued at $365,000 after purchasing an additional 1,100 shares during the period. Janus Henderson Group PLC purchased a new position in First Solar in the third quarter valued at about $1,519,000. Finally, Vident Investment Advisory LLC purchased a new position in First Solar in the third quarter valued at about $2,720,000. 51.21% of the stock is currently owned by institutional investors.

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About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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