A number of firms have modified their ratings and price targets on shares of First Solar (NASDAQ: FSLR) recently:
- 8/12/2019 – First Solar was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 8/2/2019 – First Solar had its price target raised by analysts at JPMorgan Chase & Co. from $74.00 to $82.00. They now have an “overweight” rating on the stock.
- 8/2/2019 – First Solar had its price target raised by analysts at UBS Group AG to $80.00. They now have a “buy” rating on the stock.
- 8/2/2019 – First Solar had its “buy” rating reaffirmed by analysts at Barclays PLC.
First Solar stock traded up $0.27 during midday trading on Thursday, hitting $59.26. The stock had a trading volume of 899,207 shares, compared to its average volume of 1,340,694. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.05. The company has a market capitalization of $6.22 billion, a PE ratio of 43.57, a P/E/G ratio of 1.10 and a beta of 1.30. First Solar, Inc. has a 12 month low of $36.51 and a 12 month high of $69.24. The business’s fifty day moving average is $65.32.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). The firm had revenue of $585.00 million during the quarter, compared to the consensus estimate of $656.80 million. First Solar had a net margin of 0.95% and a return on equity of 0.46%. The firm’s quarterly revenue was up 89.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) earnings per share. As a group, equities research analysts forecast that First Solar, Inc. will post 2.37 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Meridian Wealth Management LLC bought a new stake in First Solar during the second quarter valued at about $25,000. Manchester Capital Management LLC bought a new stake in First Solar during the first quarter valued at about $27,000. TCG Advisors LP bought a new stake in First Solar during the first quarter valued at about $32,000. Executive Wealth Management LLC bought a new stake in First Solar during the first quarter valued at about $79,000. Finally, NumerixS Investment Technologies Inc bought a new stake in First Solar during the second quarter valued at about $79,000. 62.10% of the stock is currently owned by hedge funds and other institutional investors.
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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