First Solar (NASDAQ:FSLR) Lowered to “Sell” Rating by StockNews.com

First Solar (NASDAQ:FSLR) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other research analysts have also recently issued reports about the stock. Barclays lifted their target price on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley decreased their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Tuesday. Guggenheim decreased their target price on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Oppenheimer lifted their target price on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Trading Up 5.4 %

Shares of NASDAQ FSLR opened at $204.94 on Thursday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The stock has a market cap of $21.94 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. The firm has a 50-day moving average of $221.68 and a 200 day moving average of $223.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.65.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $2.50 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that First Solar will post 13.18 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in the company. Atria Investments Inc lifted its holdings in First Solar by 24.7% during the third quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer’s stock valued at $618,000 after purchasing an additional 490 shares in the last quarter. Field & Main Bank lifted its holdings in shares of First Solar by 4.1% in the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after buying an additional 55 shares in the last quarter. Demars Financial Group LLC lifted its holdings in shares of First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after buying an additional 56 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of First Solar by 182.6% in the third quarter. Lindbrook Capital LLC now owns 1,232 shares of the solar cell manufacturer’s stock worth $307,000 after buying an additional 796 shares in the last quarter. Finally, Windward Capital Management Co. CA purchased a new position in shares of First Solar in the third quarter worth $352,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.