They presently have a $48.00 target price on the solar cell manufacturer’s stock.
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The sell-side brokers covering the equity also have issued projected stock price objectives on the company. The shares have now been rated Overweight by the stock experts at the ratings house. Vanguard Group Inc. boosted its stake in First Solar by 2.8% in the fourth quarter. The mean price target of all analysts taken into consideration by Zacks is $69. Stock holders will be watching when First Solar, Inc. reports their next earnings results on 2016-08-02. Basing the rating on a simplified scale where 1 represents a Buy and 5 represents a Sell, this is the average rating based on the 14 firms polled by Zacks Research. (NASDAQ:FSLR) was up +2.49% during the last trading session, with a day high of 47.74.
In other news, CTO Raffi Garabedian sold 2,467 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. It closed at $15.89, notching a gain of 1.40% for the day. Following the completion of the sale, the executive vice president now owns 12,644 shares in the company, valued at $771,031.12. Also, EVP Timothy Brian Rebhorn sold 18,335 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The final shorts are 13.6% of the total floated shares. Earnings per share were $1.47. The disclosure for this sale can be found here. The company has a market capitalization of $4.80 billion and a PE ratio of 6.18. The stock has a 50 day moving average price of $48.54 and a 200-day moving average price of $59.60. First Solar has a 12-month low of $40.25 and a 12-month high of $74.29.
8 Wall Street analysts covering Canadian Solar (CSIQ) believe that the average level the stock could reach for the short term is $30.19. During the same quarter a year ago, the company earned ($0.62) earnings per share. Revenue for the same period is expected to arrive at $863.02M. The business’s revenue for the quarter was up 80.7% on a year-over-year basis.
Other large investors recently added to or reduced their stakes in the company.
We have a $65 price estimate for First Solar, which significantly ahead of the current market price. First Solar’s revenue was up 80.7% compared to the same quarter a year ago. As a result, First Solar will end production of its TetraSun crystalline silicon solar panel product now manufactured there, and expects to incur impairment and related charges of approximately $90 million to $110 million, substantially all of which is expected to be non-cash. However, First Solar’s new Series 5 modules will be rated at 365W, translating into a slight advantage over silicon modules.
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04/29/2016 – First Solar, Inc. was upgraded to “buy” by analysts at Standpoint Research. Finally, Chilton Capital Management LLC acquired a new position in First Solar during the first quarter valued at about $348,000. On Apr 28, 2016, Roth Capital said it Maintains its rating on First Solar. The Company designs manufactures and sells photovoltaic (PV) solar modules and also develops designs constructs and sells PV solar power solutions.
