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.
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.
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.
Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.