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First Solar (NASDAQ:FSLR) Sets a New 12-Month High Following an Analyst Upgrade

First Solar (NASDAQ:FSLR) Sets a New 12-Month High Following an Analyst Upgrade

Shares of First Solar, Inc. (NASDAQ: FSLR) reached a new 52-week high during the trading session on Wednesday during the middle of the day, shortly after Morgan Stanley raised their price objective on the stock from $140.00 to $194.00. At this time, the stock is rated by Morgan Stanley as having an equal weight, which indicates that the rating is neutral. The price of First Solar shares ranged from a high of $174.02 to a low of $173.12 during trading 13135 shares throughout the day. When the stock was last traded, it was offered for $171.01 per share.

Other investigations have been conducted about the FSLR on numerous occasions. In a research report released on September 28, Evercore ISI increased its price target for First Solar from $88.00 to $150.00. Additionally, they upgraded the company from an “in-line” rating to an “outperform” rating. UBS Group moved their rating on First Solar from “neutral” to “buy” and increased their price target from $70.00 to $140.00 in a study released on Friday, October 28. Oppenheimer stated their decision to raise their target price for First Solar to $156.0 in a research note published on November 1. The research note that Deutsche Bank Aktiengesellschaft published on November 14 contained an announcement that the company would begin covering First Solar. They provided the stock with a recommendation of “buy” and estimated that the price of the stock would rise to $180.00 shortly. Cowen increased their price objective for First Solar from $167.00 to $175.00 in a report on the company’s investment strategy published on Friday, October 28. This was the final change, but certainly not the least important one. One analyst suggests selling the stock, while six others have given it a rating of “hold,” and fourteen others have given it a rating of “buy.” The information made available by Bloomberg indicates that the stock is currently rated as having a consensus rating of “Moderate Buy,” with an average price objective of $173.00.

Additionally, on Monday, October 17, Director R. Craig Kennedy sold 600 shares of the company’s stock through a transaction. The price of each share was determined to be $125.68, which resulted in the total amount paid for the shares being $75,408.00. As a direct result of the completion of the transaction, the director now directly owns 18,888 company shares, the total value of which is 2,373,843.84 dollars. Simply clicking on this link will take you to a document submitted to the SEC and provide you with additional details regarding the transaction. The company’s insiders own 0.54 percent of the total number of shares outstanding.

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. These transactions took place in the most recent period. During the third quarter of this fiscal year, Riverview Trust Company incurred an additional expense of $25,000 by purchasing a new share of First Solar. TCI Wealth Advisors Inc. increased the First Solar stock held by 370.7% during the third quarter of the current fiscal year. TCI Wealth Advisors Inc. now has a total of 193 shares of the company’s stock that manufactures solar cells, valued at $26,000 after purchasing an additional 152 shares during the most recent quarter. This brings the total number of shares owned by the company to 193. SeaCrest Wealth Management, LLC placed a $32,000 investment in First Solar Corporation during the second quarter of 2018. This investment was made in 2018. During the third quarter, First Horizon Advisors Inc. increased the percentage of First Solar ownership by 214.5% from the previous quarter’s holdings. First Horizon Advisors Inc. now holds 261 shares of the solar cell manufacturer’s stock, which it acquired by purchasing an additional 178 shares during the most recent quarter. Based on the stock’s current price, the company has a market value of $33,000. Last but certainly not least, Asset Dedication LLC invested $35,000 during the third quarter of 2018 to purchase a new stake in First Solar. Institutional investors and hedge funds currently own 80.97 percent of the company’s stock between them.

Currently, the debt-to-equity ratio is at 0, the quick ratio is 3, the current ratio is 4, and the current ratio is at nine respectively. The stock has traded at a moving average price of $157.58 over the past 50 trading days, while the stock has traded at an average price of $127.20 over the last 200 trading days. Given that the company has a market value of $18.55 billion, a PE ratio of 194.33, a price-to-earnings-growth ratio of 0.59, and a beta value of 1.30, it represents an attractive investment opportunity. In addition, the price-to-earnings growth ratio is 0.59, which is a very low number.

First Solar (NASDAQ: FSLR) announced the release of its financial results for the third quarter on Thursday, October 27. (EPS) of $0.46 for the quarter, which fell short of the forecasts of industry experts, who anticipated earnings of $0.23re (EPS) of $0.46 for the quarter, which fell short of the forecasts of industry experts, who anticipated earnings of $0.23re (EPS) of $0.46 for the quarter, which fell short of the forecasts of industry experts, who anticipated earnings of $0.23re (EPS) of $0.46 for the quarter, which fell short of the forecasts of industry experts, who anticipated earnings of $0.23re ( First Solar had a return on equity of 1.61% and a net margin of 3.75%. First Solar is a solar energy company. Even though analysts anticipated the company would bring in $747.97 million in revenue for the quarter, the corporation was only successful in bringing in $629 million in revenue for the period. In the prior year, the company posted earnings of $0.42 per share during the same period. The company’s quarterly sales showed an increase of 7.8% compared to the results achieved in the same quarter of the previous year. First Solar, Inc. is expected to report earnings of $0.53 per share for the current fiscal year, according to projections made by analysts who follow the stock market.

Customers in many countries, such as the United States of America, Japan, France, Canada, India, Australia, and others, turn to First Solar, Inc. for photovoltaic (PV) solar energy solutions. Solar modules made of cadmium telluride are the primary focus of the company’s product development, manufacturing, and retail operations. These photovoltaic cells transform sunlight into usable electricity. It provides services to various system owners, including utilities, independent power producers, commercial and industrial businesses, and others, in addition to system developers and operators.

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