November 23, 2016 - By Louis Casey
Trading of First Solar (NASDAQ:FSLR)‘s shares is going to be interesting today. Macquarie cut the stock from a Outperform to a Neutral.
Out of 23 analysts covering First Solar Inc. (NASDAQ:FSLR), 8 rate it a “Buy”, 3 “Sell”, while 12 “Hold”. This means 35% are positive. $100.0 is the highest target while $4.49 is the lowest. The $54.58 average target is 86.22% above today’s ($29.31) stock price. First Solar Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Perform” rating by Oppenheimer given on Thursday, November 3. Oppenheimer maintained it with “Outperform” rating and $66 target price in Thursday, December 10 report. As per Friday, January 15, the company rating was upgraded by Standpoint Research. The company was initiated on Thursday, October 1 by Avondale. As per Tuesday, September 1, the company rating was initiated by Barclays Capital. Argus Research maintained it with “Buy” rating and $66 target price in Wednesday, May 18 report. The rating was downgraded by Goldman Sachs to “Neutral” on Friday, October 7. The firm earned “Buy” rating on Tuesday, January 5 by Goldman Sachs. On Thursday, February 25 the stock rating was downgraded by Standpoint Research to “Hold”. The stock has “Neutral” rating given by Mizuho on Thursday, November 17.
About 778,915 shares traded hands. First Solar, Inc. (NASDAQ:FSLR) has declined 52.11% since April 21, 2016 and is downtrending. It has underperformed by 57.44% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 0.77 in 2016 Q2. Its down 0.38, from 1.15 in 2016Q1. The ratio is negative, as 73 funds sold all First Solar, Inc. shares owned while 104 reduced positions. 48 funds bought stakes while 155 increased positions. They now own 57.19 million shares or 8.49% less from 62.50 million shares in 2016Q1.
Boston reported 40,808 shares or 0% of all its holdings. Royal London Asset Mngmt Ltd has invested 0.02% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Dimensional Fund Advisors L P last reported 0.07% of its portfolio in the stock. Mark Sheptoff Financial Planning Ltd has invested 0% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Oregon Employees Retirement Fund owns 7,771 shares or 0.01% of their US portfolio. Investec Asset Management last reported 0.07% of its portfolio in the stock. Cap Interest owns 170,000 shares or 0.01% of their US portfolio. Blackrock has 0.01% invested in the company for 89,879 shares. Blackrock Mgmt Ltd Co last reported 159,114 shares in the company. Aqr Cap Management Lc last reported 2.13 million shares in the company. Hartford Inv Management has invested 0.02% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). The Germany-based Commerzbank Aktiengesellschaft Fi has invested 0.07% in First Solar, Inc. (NASDAQ:FSLR). Lsv Asset owns 3,900 shares or 0% of their US portfolio. Citadel Ltd Liability Company reported 25,753 shares or 0% of all its holdings. The Pennsylvania-based Hbk Sorce Advisory Ltd Llc has invested 0.06% in First Solar, Inc. (NASDAQ:FSLR).
Insider Transactions: Since August 4, 2016, the stock had 0 insider purchases, and 8 insider sales for $27.18 million net activity. 67,251 shares were sold by DeJong Philip, worth $2.98 million on Thursday, August 4. The insider Garabedian Raffi sold 90,000 shares worth $3.98 million. Bueter Christopher also sold $1.30M worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. Bradley Alexander R. had sold 566 shares worth $24,774 on Friday, August 5. ANTOUN GEORGES sold $5.96M worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. On Thursday, August 4 KALETA PAUL J sold $905,874 worth of the stock or 20,343 shares. 90,289 shares were sold by Widmar Mark R, worth $4.02 million on Thursday, August 4.
First Solar, Inc. is a provider of photovoltaic solar energy solutions. The company has a market cap of $3.07 billion. The Firm designs, makes and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. It has a 6 P/E ratio. The Firm operates through two divisions: components and systems.
According to Zacks Investment Research, “FIRST SOLAR INC. manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.”
First Solar, Inc., incorporated on May 15, 2003, is a well-known provider of photovoltaic (PV) solar energy solutions. The Firm designs, makes and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Firm operates through two divisions: components and systems. The Company’s components segment designs, makes and sells solar modules, which convert sunlight into electricity. The Company’s systems segment provides PV solar power systems or solar solutions for systems, which use the Company’s solar modules. The Firm provides activities and maintenance (O&M) services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. The Firm has approximately 30 manufacturing lines around the world and over 2.8 gigawatts (GW) of annual manufacturing capacity with lines having a production capability of approximately 2,500 modules per day, totaling approximately 71,600 modules each day across over 30 lines.
More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Cnbc.com which released: “First Solar is taking some bitter medicine. Here’s why it could work” on November 17, 2016, also Cnbc.com with their article: “First Solar plummets after news of global surplus of panels” published on November 03, 2016, Fool.com published: “Better Buy: Canadian Solar Inc. vs. First Solar” on October 28, 2016. More interesting news about First Solar, Inc. (NASDAQ:FSLR) were released by: Seekingalpha.com and their article: “First Solar: Don’t Rule Out A Turnaround” published on November 15, 2016 as well as Forbes.com‘s news article titled: “First Solar Slashes Revenue Expectations By $1B As Demand For Solar In China Slows” with publication date: November 04, 2016.
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By Louis Casey