First Solar (NASDAQ:FSLR) Upgraded to Hold at Seaport Res Ptn

Seaport Res Ptn upgraded shares of First Solar (NASDAQ:FSLR - Free Report) to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Clarkson Capital initiated coverage on shares of First Solar in a report on Wednesday, August 14th. They set a "buy" rating and a $270.00 price objective for the company. Barclays raised their price objective on shares of First Solar from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of First Solar from $262.00 to $282.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 16th. Truist Financial began coverage on shares of First Solar in a research report on Thursday, September 26th. They set a "buy" rating and a $300.00 price target for the company. Finally, BMO Capital Markets restated an "outperform" rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $281.13.

First Solar Stock Down 10.1 %

Shares of FSLR traded down $21.87 during mid-day trading on Tuesday, hitting $194.02. 13,750,074 shares of the company's stock were exchanged, compared to its average volume of 2,498,060. The firm has a fifty day moving average of $220.87 and a two-hundred day moving average of $225.16. First Solar has a twelve month low of $129.21 and a twelve month high of $306.77. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 0.36 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its 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 firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. The business's quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that First Solar will post 13.12 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the 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 completion of the sale, the insider now owns 3,468 shares of the company's stock, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

Several large investors have recently modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC grew its position in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock worth $31,000 after buying an additional 111 shares during the period. Summit Securities Group LLC acquired a new stake in shares of First Solar during the 2nd quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of First Solar during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 92.08% of the company's stock.

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.