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

Hsbc Global Res upgraded shares of First Solar (NASDAQ:FSLR) to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports.

FSLR has been the subject of several other research reports. William Blair started coverage on shares of First Solar in a research report on Thursday, August 29th. They issued a market perform rating for the company. Janney Montgomery Scott downgraded shares of First Solar from a buy rating to a neutral rating in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of First Solar from $215.00 to $280.00 and gave the company a buy rating in a research report on Friday, June 28th. Clarkson Capital began coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a buy rating and a $270.00 price target for the company. Finally, Bank of America cut their target price on shares of First Solar from $343.00 to $321.00 and set a buy rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $285.44.

First Solar Stock Down 9.3 %

FSLR stock opened at $205.04 on Wednesday. First Solar has a 12 month low of $129.21 and a 12 month high of $306.77. The firm has a market cap of $21.95 billion, a PE ratio of 18.31, a P/E/G ratio of 0.38 and a beta of 1.44. The firm has a 50 day simple moving average of $227.59 and a 200 day simple moving average of $220.72. 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 (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same period in the prior year, the business earned $1.85 earnings per share. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts forecast that First Solar will post 13.53 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the firm’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 transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by insiders.

Institutional Trading of First Solar

A number of hedge funds have recently bought and sold shares of FSLR. Atlas Capital Advisors LLC lifted its holdings 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 acquiring an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar during the 1st quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar during the 4th quarter worth about $27,000. Summit Securities Group LLC bought a new position in shares of First Solar during the 2nd quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of First Solar during the 2nd quarter worth about $38,000. 92.08% of the stock is owned by 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.