StockNews.com upgraded shares of First Solar (NASDAQ:FSLR – Free Report) from a sell rating to a hold rating in a research note released on Thursday.
A number of other equities research analysts have also recently weighed in on FSLR. Morgan Stanley reduced their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their price target on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Barclays dropped their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, Evercore ISI reduced their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $279.04.
Check Out Our Latest Research Report on First Solar
First Solar Stock Down 0.0 %
First Solar (NASDAQ:FSLR – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The business’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts predict that First Solar will post 13.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. AlphaMark Advisors LLC acquired a new position in First Solar in the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the third quarter worth about $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar in the third quarter valued at approximately $29,000. Larson Financial Group LLC lifted its stake in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in First Solar during the second quarter worth approximately $38,000. 92.08% of the stock is owned by hedge funds and other institutional investors.
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.
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