The stock of First Solar, Inc. (NASDAQ:FSLR) hit a new 52-week low and has $31.16 target or 8.00% below today’s $33.87 share price. The 9 months bearish chart indicates high risk for the $3.51B company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $31.16 price target is reached, the company will be worth $280.80 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 12.70 million shares traded hands or 370.37% up from the average. First Solar, Inc. (NASDAQ:FSLR) has declined 39.86% since April 1, 2016 and is downtrending. It has underperformed by 41.08% the S&P500.
Analysts await First Solar, Inc. (NASDAQ:FSLR) to report earnings on November, 14. They expect $0.66 EPS, down 80.47% or $2.72 from last year’s $3.38 per share. FSLR’s profit will be $68.57 million for 12.83 P/E if the $0.66 EPS becomes a reality. After $0.87 actual EPS 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 20 analysts covering First Solar Inc. (NASDAQ:FSLR), 10 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 50% are positive. First Solar Inc. has been the topic of 38 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Friday, September 30 the stock rating was initiated by Williams Capital Group with “Buy”. Standpoint Research maintained First Solar, Inc. (NASDAQ:FSLR) rating on Friday, October 30. Standpoint Research has “Buy” rating and $72 price target. The firm has “Market Perform” rating given on Thursday, June 2 by Wells Fargo. The stock of First Solar, Inc. (NASDAQ:FSLR) earned “Buy” rating by Argus Research on Wednesday, May 18. The rating was upgraded by Cowen & Co on Wednesday, August 5 to “Outperform”. Argus Research maintained it with “Buy” rating and $87 target price in Thursday, November 5 report. The stock of First Solar, Inc. (NASDAQ:FSLR) earned “Outperform” rating by Oppenheimer on Thursday, December 10. The firm earned “Buy” rating on Friday, April 29 by Standpoint Research. The firm has “Neutral” rating given on Thursday, March 31 by Mizuho. TheStreet upgraded the shares of FSLR in a report on Thursday, August 6 to “Hold” rating.
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 Q2 2016. Its up 0.17, from 0.98 in 2016Q1. The ratio improved, 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.
Moreover, Systematic Financial Management Lp has 0.43% invested in First Solar, Inc. (NASDAQ:FSLR) for 644,658 shares. Moreover, Synovus Corp has 0% invested in First Solar, Inc. (NASDAQ:FSLR) for 74 shares. Pnc Fin Services Group Inc, a Pennsylvania-based fund reported 11,056 shares. Moreover, Boston Partners has 0% invested in First Solar, Inc. (NASDAQ:FSLR) for 40,808 shares. California State Teachers Retirement Systems, a California-based fund reported 164,637 shares. Dimensional Fund Limited Partnership accumulated 2.53 million shares or 0.07% of the stock. Amica Pension Fund Board Of Trustees accumulated 0.02% or 3,028 shares. Capstone Asset reported 14,167 shares or 0.02% of all its holdings. Intact Invest Mngmt last reported 0.03% of its portfolio in the stock. State Treasurer State Of Michigan holds 273,779 shares or 0.1% of its portfolio. Acadian Asset Ltd Liability accumulated 208 shares or 0% of the stock. Tower Cap Lc (Trc) accumulated 4,126 shares or 0.02% of the stock. Stevens Cap Mgmt Limited Partnership holds 0.1% or 53,070 shares in its portfolio. Jacobson Schmitt Advsr Ltd Co holds 2.01% or 48,976 shares in its portfolio. Moreover, Fiduciary Communication has 0.08% invested in First Solar, Inc. (NASDAQ:FSLR) for 46,928 shares.
Insider Transactions: Since August 4, 2016, the stock had 0 insider purchases, and 8 insider sales for $27.18 million net activity. 67,251 shares with value of $2.98M were sold by DeJong Philip on Thursday, August 4. On Friday, August 5 Bradley Alexander R. sold $24,774 worth of the stock or 566 shares. $905,874 worth of First Solar, Inc. (NASDAQ:FSLR) shares were sold by KALETA PAUL J. Another trade for 90,289 shares valued at $4.02 million was made by Widmar Mark R on Thursday, August 4. 133,761 shares were sold by ANTOUN GEORGES, worth $5.96 million on Thursday, August 4. HUGHES JAMES ALTON sold $8.02 million worth of stock. 29,384 shares were sold by Bueter Christopher, worth $1.30M.
More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Cnbc.com which released: “First Solar plummets 18% after global surplus of panels” on November 03, 2016, also Valuewalk.com with their article: “Fitbit Inc Tanks After Sales Miss, First Solar, Inc. Shares Rise After Earnings” published on November 02, 2016, Fool.com published: “Better Buy: Canadian Solar Inc. vs. First Solar” on October 28, 2016. More interesting news about First Solar, Inc. (NASDAQ:FSLR) were released by: 247Wallst.com and their article: “Top Analyst Upgrades and Downgrades: Brocade, Facebook, First Solar, Fitbit …” published on November 03, 2016 as well as Toledoblade.com‘s news article titled: “First Solar profit beats analysts’ expectations” with publication date: November 03, 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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