Cowen reiterated their outperform rating on shares of First Solar (NASDAQ:FSLR) in a research report sent to investors on Wednesday morning. Cowen currently has a $77.00 price target on the solar cell manufacturer’s stock, up from their prior price target of $60.00.
FSLR has been the topic of a number of other reports. Goldman Sachs Group restated a neutral rating and issued a $65.00 price target (up from $50.00) on shares of First Solar in a research note on Thursday, November 30th. Axiom Securities restated a buy rating on shares of First Solar in a research note on Thursday, August 10th. Vetr upgraded First Solar from a buy rating to a strong-buy rating and set a $53.04 price target on the stock in a research note on Wednesday, October 11th. Deutsche Bank upgraded First Solar from a hold rating to a buy rating and lifted their price target for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Finally, Needham & Company LLC upgraded First Solar from a hold rating to a buy rating and set a $60.00 price target on the stock in a research note on Friday, October 27th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. First Solar currently has a consensus rating of Buy and a consensus target price of $57.51.
Shares of First Solar (FSLR) traded up $2.03 during mid-day trading on Wednesday, hitting $63.24. The company’s stock had a trading volume of 4,666,600 shares, compared to its average volume of 2,780,130. First Solar has a one year low of $25.56 and a one year high of $65.43. The stock has a market cap of $6,392.34, a P/E ratio of 15.00 and a beta of 2.03. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06.
Hedge funds have recently modified their holdings of the stock. Suffolk Capital Management LLC acquired a new position in First Solar during the third quarter worth $1,576,000. Scott & Selber Inc. acquired a new position in shares of First Solar in the third quarter worth $1,472,000. Commerzbank Aktiengesellschaft FI raised its holdings in shares of First Solar by 72.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 190,386 shares of the solar cell manufacturer’s stock worth $7,593,000 after acquiring an additional 79,987 shares during the last quarter. Gotham Asset Management LLC acquired a new position in shares of First Solar in the second quarter worth $14,135,000. Finally, Winfield Associates Inc. acquired a new position in shares of First Solar in the third quarter worth $560,000. 51.21% of the stock is owned by hedge funds and other 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.
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