First Solar (NASDAQ:FSLR) Lifted to Strong-Buy at Hsbc Global Res

First Solar (NASDAQ:FSLR) was upgraded by Hsbc Global Res to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $315.00 price target on shares of First Solar in a research note on Wednesday, July 31st. Susquehanna increased their price target on shares of First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a report on Wednesday, July 3rd. Jefferies Financial Group lowered their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday. UBS Group raised their price objective on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Barclays lifted their price target on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $285.44.

First Solar Price Performance

NASDAQ FSLR opened at $205.04 on Wednesday. The business’s fifty day moving average price is $227.59 and its 200-day moving average price is $220.72. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 0.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. First Solar has a 1-year low of $129.21 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 EPS. On average, equities analysts predict that First Solar will post 13.62 earnings per share for the current year.

Insider Activity

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction 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 sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of hedge funds have recently added to or reduced their stakes in the company. Burford Brothers Inc. purchased a new position in First Solar during the fourth quarter valued at $3,539,000. Spouting Rock Asset Management LLC purchased a new position in First Solar during the fourth quarter valued at $579,000. Quarry LP lifted its holdings in First Solar by 22.7% during the fourth quarter. Quarry LP now owns 1,319 shares of the solar cell manufacturer’s stock valued at $227,000 after purchasing an additional 244 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in First Solar during the fourth quarter valued at $46,000. Finally, V Square Quantitative Management LLC lifted its holdings in First Solar by 31.4% during the fourth quarter. V Square Quantitative Management LLC now owns 1,590 shares of the solar cell manufacturer’s stock valued at $274,000 after purchasing an additional 380 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

About First Solar

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.