First Solar, Inc. (FSLR) Rating Increased to Buy at Vetr Inc
- Author: Zachary Reyes Mar 09, 2017,
Mar 09, 2017, 11:28
The Relative Volume value measured for First Solar, Inc. The brokerage now has $29.00 target price on the solar cell manufacturer's stock.
Several other research firms also recently issued reports on FSLR. JMP Securities restated an underperform rating and issued a $32.00 price target on shares of First Solar in a research note on Friday, November 4th. The correct version of this piece can be accessed at https://www.chaffeybreeze.com/2017/03/08/first-solar-inc-fslr-rating-increased-to-buy-at-vetr-inc.html. Guggenheim set a $45.00 price target on shares of First Solar and gave the company a buy rating in a research note on Saturday, November 19th. Robert W. Baird reiterated an outperform rating and set a $40.00 price target on shares of First Solar in a research note on Wednesday, February 22nd.
02/22/2017 - First Solar, Inc. was downgraded to "underperform" by analysts at Credit Suisse. Roth Capital reiterated a "neutral" rating and set a $27.00 price target on shares of First Solar in a research note on Tuesday, December 6th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company's stock. The company has a consensus rating of Hold and an average price target of $44.44.
Shares of First Solar (NASDAQ:FSLR) traded down 1.9127% on Monday, reaching $32.6925. The share price of $33.33 is at a distance of 16.54 percent from its 52-week low and down -55.14 percent versus its peak. The company's 50-day moving average is $33.78 and its 200-day moving average is $35.17. The last trading session volume compares with the 2.45M average and market worth floats around 3.48B.
First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 21st. Analysts had estimated an EPS of $0.96. Net sales for the fourth quarter were $480 million, a decrease of $208 million from the prior quarter due to the completion of multiple systems projects during the quarter, partially offset by higher module-only sales. During the same period in the previous year, the business posted $1.60 earnings per share. The firm's revenue was down 49.0% on a year-over-year basis. For the past 5 years, the company's revenue has grown 0.2%, while the company's earnings per share has grown -3.5%.
This article was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another website, it was illegally stolen and republished in violation of worldwide trademark and copyright legislation.
In other news, EVP Paul J. Kaleta sold 8,492 shares of First Solar stock in a transaction on Thursday, February 23rd. (FSLR) is getting weaker by the somewhat negative sentiment (2.90 on a 5-point scale) that sell-side analysts have provided concerning it. Brokerage firms on the average advocate the company shares as Neutral. Following the transaction, the executive vice president now owns 23,696 shares of the company's stock, valued at $798,318.24.
Several institutional investors have recently modified their holdings of FSLR. Cornerstone Advisors Inc. increased its position in shares of First Solar by 2,220.9% in the third quarter. Delta Lloyd NV now owns 495,751 shares of the solar cell manufacturer's stock worth $19,577,000 after buying an additional 21,169 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of First Solar by 0.5% in the third quarter. Boston Partners now owns 378,011 shares of the solar cell manufacturer's stock valued at $14,928,000 after buying an additional 337,203 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of First Solar by 0.5% in the third quarter. SRB Corp now owns 4,236 shares of the solar cell manufacturer's stock valued at $167,000 after buying an additional 1,374 shares during the last quarter. Inc. raised its stake in First Solar by 2.4% in the third quarter. Inc. now owns 87,310 shares of the solar cell manufacturer's stock worth $3,448,000 after buying an additional 2,024 shares during the last quarter. Comerica Bank boosted its position in shares of First Solar by 0.3% in the fourth quarter. The Company's systems segment provides PV solar power systems or solar solutions for systems, which use the Company's solar modules. The Companys components segment involves the design manufacture and sale of solar modules which convert sunlight into electricity. It operates through two segments: components and systems.