The stock of First Solar, Inc. (NASDAQ:FSLR) is a huge mover today! About 1.47 million shares traded hands. First Solar, Inc. (NASDAQ:FSLR) has declined 44.74% since March 2, 2016 and is downtrending. It has underperformed by 52.99% the S&P500.
The move comes after 5 months positive chart setup for the $4.02 billion company. It was reported on Oct, 5 by Barchart.com. We have $49.15 PT which if reached, will make NASDAQ:FSLR worth $964.80 million more.
Analysts await First Solar, Inc. (NASDAQ:FSLR) to report earnings on November, 14. They expect $0.66 earnings per share, down 80.47% or $2.72 from last year’s $3.38 per share. FSLR’s profit will be $66.93 million for 15.02 P/E if the $0.66 EPS becomes a reality. After $0.87 actual earnings per share reported by First Solar, Inc. for the previous quarter, Wall Street now forecasts -24.14% negative EPS growth.
First Solar, Inc. (NASDAQ:FSLR) Ratings Coverage
Out of 19 analysts covering First Solar Inc. (NASDAQ:FSLR), 11 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 58% are positive. First Solar Inc. has been the topic of 36 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Argus Research maintained the shares of FSLR in a report on Thursday, November 5 with “Buy” rating. As per Tuesday, August 4, the company rating was maintained by JP Morgan. The rating was maintained by Standpoint Research on Friday, October 30 with “Buy”. The company was maintained on Wednesday, August 5 by Needham. The rating was initiated by Williams Capital Group with “Buy” on Friday, September 30. The rating was downgraded by Needham on Thursday, December 10 to “Hold”. The stock of First Solar, Inc. (NASDAQ:FSLR) has “Overweight” rating given on Tuesday, September 1 by Barclays Capital. Goldman Sachs upgraded First Solar, Inc. (NASDAQ:FSLR) rating on Tuesday, January 5. Goldman Sachs has “Buy” rating and $100.0 price target. Roth Capital initiated the shares of FSLR in a report on Tuesday, January 26 with “Buy” rating. The stock of First Solar, Inc. (NASDAQ:FSLR) earned “Buy” rating by Standpoint Research on Friday, April 29.
According to Zacks Investment Research, “FIRST SOLAR INC. manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.”
Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q2. Its up 0.17, from 0.98 in 2016Q1. The ratio is positive, as 73 funds sold all First Solar, Inc. shares owned while 104 reduced positions. 48 funds bought stakes while 155 increased positions. They now own 57.19 million shares or 8.49% less from 62.50 million shares in 2016Q1.
Nationwide Fund last reported 0.05% of its portfolio in the stock. Exxonmobil Inv Management Tx reported 19,850 shares or 0.02% of all its holdings. The Massachusetts-based Baldwin Brothers Ma has invested 1.88% in First Solar, Inc. (NASDAQ:FSLR). Moreover, Investec Asset Ltd has 0.07% invested in First Solar, Inc. (NASDAQ:FSLR) for 267,549 shares. Moreover, Aviva Public Limited has 0.01% invested in First Solar, Inc. (NASDAQ:FSLR) for 42,452 shares. Invesco Limited has invested 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Moreover, Capstone Advsr Ltd Llc has 0.01% invested in First Solar, Inc. (NASDAQ:FSLR) for 6,862 shares. Blackrock Fund Advsr last reported 0.01% of its portfolio in the stock. Bancorp Of Montreal Can last reported 268,672 shares in the company. Retirement Of Alabama has invested 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Euclid Advsr Ltd Liability Company holds 4,055 shares or 0.01% of its portfolio. Blackrock Institutional Trust Na holds 0.02% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 1.98 million shares. Checchi Advisers Limited Liability accumulated 271 shares or 0% of the stock. Opportunities Mgmt Ltd Liability Com has 0.85% invested in the company for 57,972 shares. Herndon Capital Mngmt Limited Company, a Georgia-based fund reported 7 shares.
Insider Transactions: Since April 7, 2016, the stock had 0 insider buys, and 11 selling transactions for $29.17 million net activity. 90,000 shares were sold by Garabedian Raffi, worth $3.98 million. $24,774 worth of First Solar, Inc. (NASDAQ:FSLR) shares were sold by Bradley Alexander R.. 18,335 shares were sold by Rebhorn Timothy Brian, worth $1.12 million on Thursday, April 14. DeJong Philip sold $2.98 million worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. The insider HUGHES JAMES ALTON sold $8.02M. Bueter Christopher also sold $1.30M worth of First Solar, Inc. (NASDAQ:FSLR) shares. Shares for $5.96 million were sold by ANTOUN GEORGES on Thursday, August 4.
More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Profitconfidential.com which released: “First Solar, Inc.: Is FSLR Stock Ready to Rally?” on October 05, 2016, also Seekingalpha.com with their article: “First Solar: A Long-Term Growth Opportunity Amidst A Cyclical Earnings Trough” published on October 03, 2016, Bloomberg.com published: “First Solar, SunPower Rise as 8Point3 Yieldco Offers Shares” on September 23, 2016. More interesting news about First Solar, Inc. (NASDAQ:FSLR) were released by: Fool.com and their article: “Why Shares of First Solar, Inc. Plunged 19% in August” published on September 08, 2016 as well as Forbes.com‘s news article titled: “First Solar Enters Oversold Territory (FSLR)” with publication date: September 14, 2016.
FSLR Company Profile
First Solar, Inc., incorporated on May 15, 2003, is a well-known provider of photovoltaic (PV) solar energy solutions. The Firm designs, makes and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Firm operates through two divisions: components and systems. The Company’s components segment designs, makes and sells solar modules, which convert sunlight into electricity. The Company’s systems segment provides PV solar power systems or solar solutions for systems, which use the Company’s solar modules. The Firm provides activities and maintenance (O&M) services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. The Firm has approximately 30 manufacturing lines around the world and over 2.8 gigawatts (GW) of annual manufacturing capacity with lines having a production capability of approximately 2,500 modules per day, totaling approximately 71,600 modules each day across over 30 lines.
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