First Solar (NASDAQ:FSLR) had its price target hoisted by research analysts at Deutsche Bank to $75.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Deutsche Bank’s price objective would suggest a potential upside of 22.53% from the company’s previous close.
FSLR has been the topic of a number of other reports. Goldman Sachs Group reiterated a “neutral” rating and issued a $65.00 price objective (up from $50.00) on shares of First Solar in a report on Thursday, November 30th. Axiom Securities reiterated a “buy” rating on shares of First Solar in a report on Thursday, August 10th. Vetr upgraded First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 price objective on the stock in a report on Wednesday, October 11th. Needham & Company LLC upgraded First Solar from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, October 2nd. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.79.
Shares of First Solar (NASDAQ FSLR) traded up $3.94 during trading on Wednesday, hitting $61.21. The stock had a trading volume of 5,429,100 shares, compared to its average volume of 2,772,069. The firm has a market cap of $5,980.88, a PE ratio of 14.04 and a beta of 2.03. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $63.10. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of First Solar by 3.9% during the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock worth $261,043,000 after acquiring an additional 243,787 shares during the period. Schroder Investment Management Group increased its position in shares of First Solar by 12,600.7% during the second quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock worth $67,306,000 after acquiring an additional 1,666,064 shares during the period. Bank of New York Mellon Corp increased its position in shares of First Solar by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock worth $66,825,000 after acquiring an additional 82,634 shares during the period. Key Square Capital Management LLC purchased a new stake in shares of First Solar during the third quarter worth $23,621,000. Finally, Ecofin Ltd. purchased a new stake in shares of First Solar during the second quarter worth $19,485,000. 51.21% of the stock is currently owned by institutional investors and hedge funds.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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