Live Price Coverage: Could First Solar, Inc. Recover After Today’s Huge Decline?

Live Price Coverage: Could First Solar, Inc. Recover After Today's Huge Decline?

The stock of First Solar, Inc. (NASDAQ:FSLR) is a huge mover today! The stock decreased 5.88% or $2.03 during the last trading session, hitting $32.48. About 7.90 million shares traded hands or 146.88% up from the average. First Solar, Inc. (NASDAQ:FSLR) has declined 48.68% since April 4, 2016 and is downtrending. It has underperformed by 49.77% the S&P500.
The move comes after 6 months negative chart setup for the $3.37B company. It was reported on Nov, 4 by Barchart.com. We have $29.88 PT which if reached, will make NASDAQ:FSLR worth $269.60M less.

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 $68.48M for 12.30 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 22 analysts covering First Solar Inc. (NASDAQ:FSLR), 8 rate it a “Buy”, 2 “Sell”, while 12 “Hold”. This means 36% are positive. First Solar Inc. has been the topic of 42 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Perform” rating by Oppenheimer given on Thursday, November 3. The stock of First Solar, Inc. (NASDAQ:FSLR) has “Buy” rating given on Wednesday, November 18 by Deutsche Bank. The company was initiated on Thursday, October 1 by Avondale. The firm has “Hold” rating given on Wednesday, August 31 by Argus Research. The firm has “Buy” rating given on Tuesday, August 16 by Goldman Sachs. The rating was maintained by Barclays Capital with “Overweight” on Wednesday, August 10. The firm has “Buy” rating by Roth Capital given on Tuesday, January 26. Standpoint Research downgraded First Solar, Inc. (NASDAQ:FSLR) on Thursday, February 25 to “Hold” rating. The firm has “Buy” rating by JP Morgan given on Tuesday, August 4. The rating was initiated by Macquarie Research with “Outperform” on Friday, November 6.

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 increased, 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.
Spot Trading Ltd Liability Com, a Illinois-based fund reported 3,818 shares. Moreover, State Treasurer State Of Michigan has 0.1% invested in First Solar, Inc. (NASDAQ:FSLR) for 273,779 shares. Westpac Bk, a Australia-based fund reported 1.42M shares. Essex Invest Ltd Liability holds 18,389 shares or 0.15% of its portfolio. Moreover, Pnc Finance Services Group Inc Inc Inc has 0% invested in First Solar, Inc. (NASDAQ:FSLR) for 11,056 shares. Exchange holds 1.34% or 68,125 shares in its portfolio. California State Teachers Retirement Systems has 0.02% invested in the company for 164,637 shares. Amalgamated Commercial Bank holds 10,407 shares or 0.02% of its portfolio. Firsthand Management accumulated 0.53% or 10,000 shares. Quantitative Inv Mngmt Ltd Liability Com holds 13,400 shares or 0.03% of its portfolio. Capital International Investors holds 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 170,000 shares. Moreover, Jbf Capital has 0.02% invested in First Solar, Inc. (NASDAQ:FSLR) for 4,000 shares. Blackrock Inc reported 89,879 shares or 0.01% of all its holdings. Granite Inv Prtn Ltd Liability Company accumulated 0.27% or 70,985 shares. Gotham Asset Mgmt Ltd reported 156,740 shares or 0.09% of all its holdings.

Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 8 insider sales for $27.18 million net activity. Shares for $4.02M were sold by Widmar Mark R on Thursday, August 4. Bueter Christopher sold $1.30M worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. 566 shares were sold by Bradley Alexander R., worth $24,774. The insider KALETA PAUL J sold $905,874. $5.96M worth of First Solar, Inc. (NASDAQ:FSLR) was sold by ANTOUN GEORGES on Thursday, August 4. The insider HUGHES JAMES ALTON sold 180,448 shares worth $8.02M. The insider Garabedian Raffi sold $3.98 million.

More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Forbes.com which released: “First Solar Slashes Revenue Expectations By $1B As Demand For Solar In China Slows” on November 04, 2016, also Fool.com with their article: “Why Shares of First Solar, Inc. Fell 19% Today” published on November 03, 2016, Investorplace.com published: “Will First Solar, Inc. (FSLR) Stock Ever Really Bounce Back?” on November 03, 2016. More interesting news about First Solar, Inc. (NASDAQ:FSLR) were released by: Fool.com and their article: “Better Buy: Canadian Solar Inc. vs. First Solar” published on October 28, 2016 as well as Seekingalpha.com‘s news article titled: “The Vampire Squid Versus The Sun: First Solar ‘Valuation'” with publication date: November 04, 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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