Research analysts at Credit Suisse Group began coverage on shares of First Solar (NASDAQ:FSLR) in a research report issued on Monday, MarketBeat reports. The firm set an “underperform” rating and a $55.00 price target on the solar cell manufacturer’s stock. Credit Suisse Group’s target price would indicate a potential downside of 14.36% from the stock’s current price.

FSLR has been the topic of a number of other reports. Zacks Investment Research raised First Solar from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Tuesday, January 2nd. Vetr downgraded First Solar from a “sell” rating to a “strong sell” rating and set a $65.52 target price on the stock. in a report on Thursday, January 11th. BidaskClub downgraded First Solar from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of First Solar in a report on Friday, December 1st. Finally, Robert W. Baird reissued a “hold” rating and issued a $53.00 target price on shares of First Solar in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.60.

First Solar (NASDAQ FSLR) opened at $64.22 on Monday. The stock has a market capitalization of $6,710.00, a price-to-earnings ratio of -15.44 and a beta of 2.08. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. First Solar has a 1-year low of $25.56 and a 1-year high of $76.61.

In other news, insider Raffi Garabedian sold 11,284 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $70.06, for a total value of $790,557.04. Following the transaction, the insider now owns 9,227 shares of the company’s stock, valued at $646,443.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 20,270 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock worth $3,134,015 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Thompson Davis & CO. Inc. bought a new position in shares of First Solar in the fourth quarter worth about $101,000. NuWave Investment Management LLC bought a new position in shares of First Solar in the fourth quarter worth about $162,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Solar by 64.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after buying an additional 1,716 shares during the period. Cigna Investments Inc. New bought a new position in shares of First Solar in the fourth quarter worth about $201,000. Finally, WealthTrust Fairport LLC bought a new position in shares of First Solar in the fourth quarter worth about $203,000. 51.00% of the stock is currently owned by hedge funds and other institutional investors.

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About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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