Analyst Update: AeroVironment, Inc., First Solar, Inc., and YY Inc

Analysts are weighing in on AeroVironment, Inc. (AVAV), First Solar, Inc. (FSLR), and YY Inc (ADR) (YY)

Alex Eppstein
Aug 31, 2016 at 2:48 PM
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Analysts are weighing in on aerospace stock AeroVironment, Inc. (NASDAQ:AVAV), alternative energy issue First Solar, Inc. (NASDAQ:FSLR), and social media firm YY Inc (ADR) (NASDAQ:YY). Here's a quick roundup of today's brokerage notes on AVAV, FSLR, and YY.

  • AVAV is getting demolished this afternoon, down nearly 19% at $24.20, following last night's steeper-than-expected quarterly loss and a sharp drop in revenue. Also contributing to the loss -- the stock's steepest since 2009 -- is a $6 price-target cut to $31 at Piper Jaffray. AeroVironment, Inc. shares are now on track for their lowest settlement since February, and have landed on the short-sale restricted list. However, short interest already makes up a hefty chunk of the stock's float, based on AVAV's short-interest ratio of 15.20.
  • FSLR has lost 1.2% to trade at $37.78, pressured by a downgrade to "hold" at Argus Research -- which also weighed in bearishly on this apparel stock. Year-to-date, the solar stock's shares are now sitting on a nearly 43% deficit, and are approaching lows last seen in September 2013. First Solar, Inc. could face additional headwinds if bullish holdouts on Wall Street keep hitting the bricks. For instance, half of the analysts tracking the long-term underperformer rate it a "strong buy," with not a single "sell" opinion to be found. In other words, FSLR is vulnerable to future downgrades.
  • J.P. Morgan Securities started coverage on YY with an "overweight" rating and a $62 price target -- territory not charted since early May. The stock has responded, jumping 7.8% to hover near $51.83, and making another run at its 200-day moving average. Options traders seemingly think YY Inc has fuel left in the tank, too. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open roughly 25 calls for every put. The resulting call/put volume ratio of 25.05 sits only 10 percentage points from an annual peak.
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