First Solar (FSLR) was Initiated by Williams Capital Group to “Buy” and the brokerage firm has set the Price Target at $50. Williams Capital Group advised their investors in a research report released on Sep 30, 2016.
Many Wall Street Analysts have commented on First Solar. First Solar was Initiated by JMP Securities to “Mkt Underperform” on Sep 8, 2016. Shares were Reiterated by Barclays on Aug 10, 2016 to “Overweight” and Lowered the Price Target to $ 50 from a previous price target of $68 .Shares were Reiterated by Mizuho on Aug 10, 2016 to “Neutral” and Lowered the Price Target to $ 46 from a previous price target of $67 .
On the company’s financial health, First Solar reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $934.00 million for the quarter, compared to analysts expectations of $862.68 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.
First Solar opened for trading at $37.38 and hit $39.11 on the upside on Tuesday, eventually ending the session at $39.09, with a gain of 4.94% or 1.84 points. The heightened volatility saw the trading volume jump to 43,12,463 shares. Company has a market cap of $4,001 M.
In a different news, on Aug 9, 2016, Alexander R. Bradley (Chief Financial Officer) sold 566 shares at $43.77 per share price. According to the SEC, on Aug 8, 2016, Philip Dejong (Chief Operating Officer) sold 67,251 shares at $44.17 per share price. On Aug 8, 2016, Raffi Garabedian (Chief Technology Officer) sold 90,000 shares at $44.17 per share price, according to the Form-4 filing with the securities and exchange commission.
First Solar Inc. is a global provider of solar energy solutions. The Company designs manufactures and sells photovoltaic (PV) solar modules and also develops designs constructs and sells PV solar power solutions. The Company operates through two segments: components and systems. The Companys components segment involves the design manufacture and sale of solar modules which convert sunlight into electricity. The systems segment provides turn-key PV solar power systems or solar solutions for systems primarily using its solar modules. The Company also manufactures crystalline silicon solar modules and single-axis mounting systems with tracking capabilities. The Company offers its products and services for residential commercial and industrial applications including solar power system project developers system integrators and solar plant operators throughout the Americas Asia Australia the Middle East and Africa.