Trade of the Day: First Solar, Inc. (FSLR) Stock Gets Energized

Marco Green
September 22, 2017

(NASDAQ:FSLR) expressed a change of -0.02% and closed its trade at $48.85. In addition, the Company provides operations and maintenance (O&M) services to system owners that use solar modules manufactured by it or by third-party manufacturers. Clear Harbor Asset Management LLC now owns 17,145 shares of the solar cell manufacturer's stock worth $716,000 after buying an additional 80 shares during the period.

For the Current Quarter, the growth estimate for First Solar, -36.9%, while for the Next Quarter the stock growth estimate is -58.9%. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer's stock valued at $187,601,000 after acquiring an additional 6,836,843 shares in the last quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer's stock worth $962,000 after buying an additional 125 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in First Solar by 1.1% in the second quarter. State Treasurer State of MI now owns 754,373 shares of the solar cell manufacturer's stock valued at $30,084,000 after buying an additional 375,500 shares during the period. Amalgamated Bank boosted its position in shares of First Solar by 1.9% during the first quarter.

Deutsche Bank foresees potential upside to $110 for First Solar (FSLR -2.9%) shares if the International Trade Commission's section 201 outcome on Friday finds injury. LS Investment Advisors LLC now owns 3,387 shares of the solar cell manufacturer's stock worth $134,000 after buying an additional 605 shares in the last quarter. (NASDAQ:FSLR) was down -0.02% during the last trading session, with a day high of 49.25. First Solar, Inc. has a one year low of $25.56 and a one year high of $51.84.

08/24/2017 - First Solar, Inc. had its "buy" rating reiterated by analysts at Axiom Capital. The lower end of this bull flag was supported by the yellow 50-day simple moving average, and with last Friday's rally, FSLR stock completed its breakout of this bullish pattern. First Solar has an average rating of Hold and an average price target of $45.56. FSLR 's 20-day moving average now sits below its 100-day moving average.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 27th. The company had revenue of $623.00 million during the quarter, compared to analysts' expectations of $591.55 million.

The stock has Return on Assets (ROA) of -6.8 percent. First Solar's revenue was down 38.7% on a year-over-year basis. Analysts predict that First Solar will post $0.41 EPS for the current year. Cubist Systematic Strategies, LLC claims 60,830 shares worth $2,426,000.

FSLR has been the topic of several other research reports. Cowen and Company set a $40.00 price target on First Solar and gave the stock a "buy" rating in a research report on Monday, July 10th. BidaskClub upgraded First Solar from a "hold" rating to a "buy" rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research lowered shares of First Solar from a hold rating to a sell rating in a research report on Tuesday, January 17th.

Based on the latest notes released to investors, 4 analysts have issued a rating of "buy", 5 analysts "outperform", 10 analysts "hold", 0 analysts "underperform" and 0 analysts "sell". The mean target price as estimated by the analysts for the company has been recorded at $52.61. The shares were sold at an average price of $48.66, for a total transaction of $27,541.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

In other news, insider Raffi Garabedian sold 5,800 shares of the company's stock in a transaction dated Tuesday, August 1st. The disclosure for this sale can be found here.

The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $4.90B.

WARNING: "Legal & General Group Plc Purchases 14,810 Shares of First Solar, Inc. (FSLR) Downgraded to Hold at Vetr Inc." was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal.

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