Bank of America Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR - Get Free Report) had its target price upped by investment analysts at Bank of America from $185.00 to $201.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the solar cell manufacturer's stock. Bank of America's price objective would suggest a potential upside of 12.65% from the company's previous close.

Several other research firms also recently issued reports on FSLR. Royal Bank Of Canada boosted their price objective on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Barclays cut their price objective on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group boosted their price objective on shares of First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Oppenheimer downgraded First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. Finally, UBS Group reiterated a "positive" rating on shares of First Solar in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus target price of $225.73.

First Solar Stock Up 0.1%

Shares of NASDAQ FSLR traded up $0.10 during midday trading on Tuesday, reaching $178.43. 926,890 shares of the company's stock traded hands, compared to its average volume of 3,245,543. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The company has a market cap of $19.14 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.34 and a beta of 1.52. The stock's 50 day simple moving average is $163.98 and its 200-day simple moving average is $153.50. First Solar has a one year low of $116.56 and a one year high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 EPS. On average, analysts predict that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the transaction, the insider directly owned 4,398 shares of the company's stock, valued at $791,640. This represents a 26.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the transaction, the chief technology officer directly owned 8,037 shares of the company's stock, valued at $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Garde Capital Inc. purchased a new stake in First Solar in the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in First Solar in the first quarter valued at $25,000. TD Private Client Wealth LLC raised its position in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after purchasing an additional 85 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after purchasing an additional 219 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.