The stock of First Solar, Inc. (NASDAQ:FSLR) is a huge mover today! About 4.78 million shares traded hands or 18.02% up from the average. First Solar, Inc. (NASDAQ:FSLR) has declined 48.38% since April 18, 2016 and is downtrending. It has underperformed by 52.81% the S&P500.
The move comes after 9 months negative chart setup for the $2.92 billion company. It was reported on Nov, 18 by Barchart.com. We have $28.09 PT which if reached, will make NASDAQ:FSLR worth $146.00 million less.
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 45 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Friday, November 6 the stock rating was initiated by Macquarie Research with “Outperform”. The rating was maintained by Oppenheimer on Thursday, December 10 with “Outperform”. Williams Capital Group initiated First Solar, Inc. (NASDAQ:FSLR) on Friday, September 30 with “Buy” rating. Mizuho initiated First Solar, Inc. (NASDAQ:FSLR) rating on Thursday, March 31. Mizuho has “Neutral” rating and $71 price target. The rating was downgraded by Standpoint Research to “Hold” on Thursday, February 25. The stock of First Solar, Inc. (NASDAQ:FSLR) earned “Mkt Underperform” rating by Avondale on Thursday, November 17. Standpoint Research upgraded First Solar, Inc. (NASDAQ:FSLR) on Friday, January 15 to “Buy” rating. The stock has “Buy” rating given by Deutsche Bank on Tuesday, April 26. The firm has “Buy” rating given on Wednesday, May 18 by Argus Research. The company was maintained on Wednesday, November 18 by Deutsche Bank.
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 fall, 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.
Old Mutual Customised Solutions (Proprietary) Ltd last reported 2,300 shares in the company. Signaturefd Ltd Co last reported 18 shares in the company. Plante Moran Finance Advsr has 0% invested in the company for 125 shares. The West Virginia-based Security Natl Tru Com has invested 0.01% in First Solar, Inc. (NASDAQ:FSLR). Moreover, State Street has 0.01% invested in First Solar, Inc. (NASDAQ:FSLR) for 2.59 million shares. Boston holds 0% or 40,808 shares in its portfolio. Levin Cap Strategies Lp has invested 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Navellier & Associates owns 6,723 shares or 0.05% of their US portfolio. Hartford Investment Mgmt holds 18,012 shares or 0.02% of its portfolio. Parametric Port Ltd has invested 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). The Massachusetts-based Fmr Limited Liability Company has invested 0% in First Solar, Inc. (NASDAQ:FSLR). Clear Harbor Asset Ltd Liability Corp last reported 0.07% of its portfolio in the stock. Firsthand Management owns 10,000 shares or 0.53% of their US portfolio. Prescott Group Inc Cap Mngmt Ltd Liability Corporation, a Oklahoma-based fund reported 8,160 shares. Parkside Bancorporation & Tru holds 0% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 57 shares.
Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 8 sales for $27.18 million net activity. KALETA PAUL J sold $905,874 worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. $4.02 million worth of First Solar, Inc. (NASDAQ:FSLR) shares were sold by Widmar Mark R. The insider ANTOUN GEORGES sold 133,761 shares worth $5.96M. 90,000 shares were sold by Garabedian Raffi, worth $3.98 million. DeJong Philip sold $2.98 million worth of stock. The insider Bradley Alexander R. sold $24,774. $1.30M worth of First Solar, Inc. (NASDAQ:FSLR) was sold by Bueter Christopher.
More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Investorplace.com which released: “First Solar, Inc. (FSLR) Stock Can Fight Through the Pain” on November 18, 2016, also Toledoblade.com with their article: “First Solar to cut 450 jobs at local plant” published on November 18, 2016, Marketwatch.com published: “First Solar shares halted after panel maker raises adjusted earnings forecast” on November 16, 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 Cnbc.com‘s news article titled: “First Solar plummets after news of global surplus of panels” 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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