First Solar (NASDAQ:FSLR – Get Rating) had its price objective increased by equities researchers at Susquehanna Bancshares from $120.00 to $175.00 in a report released on Friday, Stock Target Advisor reports. Susquehanna Bancshares’ price target would suggest a potential upside of 28.85% from the company’s previous close.
A number of other research firms also recently commented on FSLR. Robert W. Baird boosted their price objective on First Solar from $119.00 to $164.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 31st. Credit Suisse Group dropped their price objective on First Solar to $77.00 in a research note on Monday, July 25th. JPMorgan Chase & Co. raised First Solar from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $83.00 to $126.00 in a research note on Monday, August 8th. Morgan Stanley raised First Solar from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $54.00 to $136.00 in a research report on Thursday, August 18th. Finally, Oppenheimer raised First Solar from a “market perform” rating to an “outperform” rating and set a $116.00 target price on the stock in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $121.74.
First Solar Trading Down 1.2 %
Shares of FSLR stock opened at $135.82 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.20 and a current ratio of 4.21. First Solar has a 1 year low of $59.60 and a 1 year high of $139.91. The stock has a fifty day moving average of $99.60 and a two-hundred day moving average of $82.16. The firm has a market capitalization of $14.48 billion, a PE ratio of 77.17, a price-to-earnings-growth ratio of 34.53 and a beta of 1.37.
Insider Buying and Selling at First Solar
In other First Solar news, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $62.50, for a total value of $37,500.00. Following the transaction, the director now owns 20,397 shares in the company, valued at $1,274,812.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Markus Gloeckler sold 478 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $115.14, for a total transaction of $55,036.92. Following the completion of the sale, the chief technology officer now owns 1,373 shares in the company, valued at approximately $158,087.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Craig Kennedy sold 600 shares of the company’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $62.50, for a total value of $37,500.00. Following the sale, the director now owns 20,397 shares of the company’s stock, valued at approximately $1,274,812.50. The disclosure for this sale can be found here. Insiders have sold 45,073 shares of company stock worth $4,083,386 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.
Institutional Trading of First Solar
Several large investors have recently made changes to their positions in FSLR. Norges Bank bought a new stake in shares of First Solar during the 4th quarter worth about $197,428,000. Goldman Sachs Group Inc. boosted its stake in shares of First Solar by 197.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock worth $111,880,000 after acquiring an additional 887,443 shares in the last quarter. BlackRock Inc. boosted its stake in First Solar by 5.1% during the 4th quarter. BlackRock Inc. now owns 13,598,161 shares of the solar cell manufacturer’s stock valued at $1,185,217,000 after purchasing an additional 657,674 shares during the period. Renaissance Technologies LLC bought a new stake in First Solar during the 4th quarter valued at approximately $46,535,000. Finally, Allianz Asset Management GmbH boosted its stake in First Solar by 45.5% during the 1st quarter. Allianz Asset Management GmbH now owns 1,157,245 shares of the solar cell manufacturer’s stock valued at $96,907,000 after purchasing an additional 361,999 shares during the period. Institutional investors own 79.21% of the company’s stock.
First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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