StockNews.com Downgrades First Solar (NASDAQ:FSLR) to Sell

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

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company cut their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Tuesday, October 29th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Finally, Roth Mkm decreased their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $279.04.

First Solar Trading Down 1.3 %

Shares of First Solar stock opened at $183.71 on Wednesday. The company has a market capitalization of $19.67 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The stock has a fifty day simple moving average of $194.44 and a 200 day simple moving average of $218.32. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its earnings results 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 return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that First Solar will post 13.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. Electron Capital Partners LLC lifted its stake in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares in the last quarter. Wellington Management Group LLP raised its position in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after buying an additional 516,783 shares during the period. Merewether Investment Management LP grew its position in First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after buying an additional 293,400 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in First Solar in the 3rd quarter worth about $67,652,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Company Profile

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.