November 23, 2016 - By Clifton Ray
Trading of First Solar (NASDAQ:FSLR)‘s shares is going to be interesting today. Macquarie decreased 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 84.77% above today’s ($29.54) stock price. First Solar Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Thursday, November 17, the company rating was downgraded by Avondale. The firm earned “Overweight” rating on Wednesday, August 10 by Barclays Capital. The stock has “Buy” rating given by Standpoint Research on Friday, October 30. Needham maintained the shares of FSLR in a report on Wednesday, August 5 with “Buy” rating. Piper Jaffray initiated the shares of FSLR in a report on Monday, October 10 with “Neutral” rating. As per Thursday, December 10, the company rating was downgraded by Needham. The firm has “Hold” rating given on Thursday, August 6 by TheStreet. Mizuho initiated it with “Neutral” rating and $71 target price in Thursday, March 31 report. As per Wednesday, September 9, the company rating was initiated by Oppenheimer. Standpoint Research downgraded it to “Hold” rating and $18 target price in Wednesday, December 9 report.
About 1.48M 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 Q2 2016. Its down 0.38, from 1.15 in 2016Q1. The ratio dropped, 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.
Pinebridge Invs Lp last reported 361 shares in the company. Kempen Capital Mgmt Nv holds 0.09% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 15,031 shares. Hudock Capital Gru has invested 0% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Amica Retiree Med Tru holds 0.02% or 448 shares in its portfolio. Voloridge Invest Management Ltd holds 0.11% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 77,546 shares. Gsa Capital Prns Llp last reported 0.03% of its portfolio in the stock. Hsbc Public Ltd Company holds 0.01% or 101,300 shares in its portfolio. California State Teachers Retirement last reported 164,637 shares in the company. Cambiar Limited owns 70,247 shares or 0.05% of their US portfolio. Clearbridge Invests Limited Liability Com owns 350 shares or 0% of their US portfolio. Menta Capital Llc last reported 0.08% of its portfolio in the stock. Parkside Bancshares And holds 0% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 57 shares. First Republic Inv Mgmt last reported 0% of its portfolio in the stock. Exxonmobil Investment Mgmt Incorporated Tx holds 0.02% or 19,850 shares in its portfolio. Hartford holds 0% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 100 shares.
Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 8 insider sales for $27.18 million net activity. Shares for $4.02M were sold by Widmar Mark R on Thursday, August 4. DeJong Philip sold $2.98M worth of stock or 67,251 shares. $3.98M worth of First Solar, Inc. (NASDAQ:FSLR) was sold by Garabedian Raffi. Shares for $5.96 million were sold by ANTOUN GEORGES on Thursday, August 4. $24,774 worth of First Solar, Inc. (NASDAQ:FSLR) shares were sold by Bradley Alexander R.. $1.30 million worth of shares were sold by Bueter Christopher on Thursday, August 4. The insider KALETA PAUL J sold 20,343 shares worth $905,874.
First Solar, Inc. is a provider of photovoltaic solar energy solutions. The company has a market cap of $3.10 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 6.04 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: 247Wallst.com and their article: “Top Analyst Upgrades and Downgrades: Analog Devices, First Solar, Hewlett …” published on November 23, 2016 as well as Seekingalpha.com‘s news article titled: “First Solar: Don’t Rule Out A Turnaround” with publication date: November 15, 2016.
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By Clifton Ray