The stock of First Solar, Inc. (NASDAQ:FSLR) hit a new 52-week low and has $30.46 target or 7.00% below today’s $32.75 share price. The 6 months bearish chart indicates high risk for the $3.38B company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $30.46 price target is reached, the company will be worth $236.60M 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 4.81M shares traded hands or 44.01% up from the average. First Solar, Inc. (NASDAQ:FSLR) has declined 45.33% since April 7, 2016 and is downtrending. It has underperformed by 50.11% 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 $68.12M for 12.41 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 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 company was initiated on Wednesday, September 9 by Oppenheimer. Goldman Sachs maintained First Solar, Inc. (NASDAQ:FSLR) on Tuesday, August 16 with “Buy” rating. Oppenheimer maintained First Solar, Inc. (NASDAQ:FSLR) rating on Thursday, December 10. Oppenheimer has “Outperform” rating and $66 price target. JP Morgan maintained the shares of FSLR in a report on Tuesday, August 4 with “Buy” rating. The stock of First Solar, Inc. (NASDAQ:FSLR) has “Perform” rating given on Thursday, November 3 by Oppenheimer. The stock of First Solar, Inc. (NASDAQ:FSLR) has “Outperform” rating given on Friday, November 6 by Macquarie Research. The firm has “Market Perform” rating given on Thursday, June 2 by Wells Fargo. The stock of First Solar, Inc. (NASDAQ:FSLR) has “Neutral” rating given on Thursday, November 3 by TH Capital. As per Friday, April 29, the company rating was upgraded by Standpoint Research. Williams Capital Group initiated First Solar, Inc. (NASDAQ:FSLR) rating on Friday, September 30. Williams Capital Group has “Buy” rating and $50 price target.
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.
Domini Social Ltd Liability Corp has invested 11.31% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Manufacturers Life Ins Company The has invested 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Dimensional Fund L P last reported 0.07% of its portfolio in the stock. The California-based Shelton Management has invested 0.13% in First Solar, Inc. (NASDAQ:FSLR). First Quadrant Lp Ca holds 38,900 shares or 0.04% of its portfolio. Td Asset Inc last reported 31,737 shares in the company. Gotham Asset Lc has 0.09% invested in the company for 156,740 shares. X Ltd Liability Co owns 10 shares or 0% of their US portfolio. Tompkins Fincl, a New York-based fund reported 210 shares. Kempen Cap Management Nv holds 0.09% or 15,031 shares in its portfolio. Commonwealth Equity Ser Inc last reported 20,464 shares in the company. Pacad Inv has 0.02% invested in the company for 2,900 shares. Smith Graham & Com Inv Advisors L P has invested 0.48% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Moreover, Lmr Prtn Llp has 0.57% invested in First Solar, Inc. (NASDAQ:FSLR) for 75,441 shares. Lombard Odier Asset Mngmt (Switzerland) holds 0.06% or 9,257 shares in its portfolio.
Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 8 insider sales for $27.18 million net activity. Shares for $2.98M were sold by DeJong Philip on Thursday, August 4. Widmar Mark R also sold $4.02M worth of First Solar, Inc. (NASDAQ:FSLR) shares. 566 shares were sold by Bradley Alexander R., worth $24,774 on Friday, August 5. $5.96M worth of First Solar, Inc. (NASDAQ:FSLR) shares were sold by ANTOUN GEORGES. Bueter Christopher sold $1.30 million worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. Another trade for 180,448 shares valued at $8.02 million was sold by HUGHES JAMES ALTON. Another trade for 20,343 shares valued at $905,874 was sold by KALETA PAUL J.
More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Cnbc.com which released: “First Solar plummets after news of global surplus of panels” on November 03, 2016, also Forbes.com with their article: “First Solar Slashes Revenue Expectations By $1B As Demand For Solar In China Slows” published on November 04, 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: Businesswire.com and their article: “First Solar, MCE Sign Power Purchase Agreement” published on November 01, 2016 as well as Profitconfidential.com‘s news article titled: “First Solar, Inc.: The TRAP that Converted FSLR Stock to Bullish” with publication date: October 21, 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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