The stock of First Solar, Inc. (NASDAQ:FSLR) is a huge mover today! About 683,683 shares traded hands. First Solar, Inc. (NASDAQ:FSLR) has declined 49.33% since April 25, 2016 and is downtrending. It has underperformed by 55.34% the S&P500.
The move comes after 6 months positive chart setup for the $3.35B company. It was reported on Nov, 28 by Barchart.com. We have $33.52 PT which if reached, will make NASDAQ:FSLR worth $234.50 million more.
Analysts await First Solar, Inc. (NASDAQ:FSLR) to report earnings on February, 28. They expect $0.98 EPS, down 38.75% or $0.62 from last year’s $1.6 per share. FSLR’s profit will be $104.79 million for 7.99 P/E if the $0.98 EPS becomes a reality. After $1.22 actual EPS reported by First Solar, Inc. for the previous quarter, Wall Street now forecasts -19.67% negative EPS growth.
First Solar, Inc. (NASDAQ:FSLR) Ratings Coverage
Out of 23 analysts covering First Solar Inc. (NASDAQ:FSLR), 7 rate it a “Buy”, 3 “Sell”, while 13 “Hold”. This means 30% are positive. First Solar Inc. has been the topic of 47 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Monday, October 10 the stock rating was initiated by Piper Jaffray with “Neutral”. As per Monday, January 18, the company rating was upgraded by Standpoint Research. The rating was downgraded by Goldman Sachs on Friday, October 7 to “Neutral”. The firm has “Mkt Underperform” rating by Avondale given on Thursday, November 17. The rating was downgraded by Standpoint Research on Thursday, February 25 to “Hold”. The stock of First Solar, Inc. (NASDAQ:FSLR) earned “Mkt Underperform” rating by JMP Securities on Thursday, September 8. The rating was maintained by Goldman Sachs with “Buy” on Tuesday, August 16. As per Wednesday, November 23, the company rating was downgraded by Macquarie Research. The company was maintained on Wednesday, August 5 by Needham. The firm earned “Outperform” rating on Friday, November 6 by Macquarie Research.
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 decreased to 0.77 in 2016 Q2. Its down 0.38, from 1.15 in 2016Q1. The ratio turned negative, 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.
State Of Tennessee Treasury Department accumulated 0% or 16,960 shares. Domini Social Invs Llc accumulated 11.31% or 5,442 shares. Commonwealth Commercial Bank Of Aus reported 8,413 shares or 0% of all its holdings. Tortoise Advisors Ltd Liability Company last reported 0% of its portfolio in the stock. Ls Advsrs holds 2,782 shares or 0.01% of its portfolio. The Colorado-based Jbf Inc has invested 0.02% in First Solar, Inc. (NASDAQ:FSLR). Envestnet Asset holds 0% or 3,161 shares in its portfolio. Bancorp Of Ny Mellon Corp has invested 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Employees Retirement System Of Texas has 5,000 shares for 0% of their US portfolio. Blackrock Advsr Limited Liability Co, a Delaware-based fund reported 31,167 shares. Robecosam Ag owns 86,400 shares or 0.38% of their US portfolio. Moreover, Proshare Advisors Limited Liability has 0.01% invested in First Solar, Inc. (NASDAQ:FSLR) for 23,363 shares. The New York-based Jane Street Grp Lc has invested 0% in First Solar, Inc. (NASDAQ:FSLR). Guinness Asset Management Ltd has invested 0.05% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Texas Permanent School Fund has 24,880 shares for 0.02% of their US portfolio.
Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 8 selling transactions for $27.18 million net activity. Another trade for 90,000 shares valued at $3.98 million was sold by Garabedian Raffi. $5.96M worth of First Solar, Inc. (NASDAQ:FSLR) shares were sold by ANTOUN GEORGES. $4.02 million worth of First Solar, Inc. (NASDAQ:FSLR) was sold by Widmar Mark R on Thursday, August 4. KALETA PAUL J also sold $905,874 worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. Another trade for 180,448 shares valued at $8.02M was made by HUGHES JAMES ALTON on Thursday, August 4. Bueter Christopher sold $1.30M worth of stock or 29,384 shares. Bradley Alexander R. sold $24,774 worth of stock.
More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Cnbc.com which released: “First Solar is taking some bitter medicine. Here’s why it could work” on November 17, 2016, also Cnbc.com with their article: “First Solar plummets after news of global surplus of panels” published on November 03, 2016, Forbes.com published: “First Solar Slashes Revenue Expectations By $1B As Demand For Solar In China Slows” on November 04, 2016. More interesting news about First Solar, Inc. (NASDAQ:FSLR) were released by: Seekingalpha.com and their article: “First Solar: Don’t Rule Out A Turnaround” published on November 15, 2016 as well as Seekingalpha.com‘s news article titled: “Wait Before Buying First Solar” with publication date: November 07, 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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