First Solar Target of Unusually Large Options Trading (NASDAQ:FSLR)

by · The Cerbat Gem

First Solar, Inc. (NASDAQ:FSLRGet Free Report) saw unusually large options trading activity on Monday. Stock traders acquired 22,309 put options on the stock. This represents an increase of 18% compared to the average volume of 18,952 put options.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FSLR shares. Wells Fargo & Company decreased their target price on First Solar from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Bank of America decreased their target price on First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. The Goldman Sachs Group upped their price target on shares of First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. Susquehanna decreased their price target on shares of First Solar from $280.00 to $250.00 and set a “positive” rating on the stock in a research note on Thursday, April 9th. Finally, Guggenheim decreased their price target on shares of First Solar from $312.00 to $269.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $247.03.

Get Our Latest Report on First Solar

First Solar Stock Performance

NASDAQ FSLR traded down $1.54 on Monday, reaching $231.83. The stock had a trading volume of 1,356,066 shares, compared to its average volume of 2,374,504. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The firm has a fifty day moving average of $200.53 and a two-hundred day moving average of $231.29. First Solar has a 1-year low of $135.50 and a 1-year high of $285.99. The company has a market cap of $24.91 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 0.51 and a beta of 1.57.

First Solar (NASDAQ:FSLRGet Free Report) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business posted $1.95 EPS. The business’s revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts anticipate that First Solar will post 17.64 EPS for the current year.

Insider Activity at First Solar

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the transaction, the general counsel directly owned 9,850 shares in the company, valued at $1,966,257. The trade was a 47.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kuntal Kumar Verma sold 3,426 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the transaction, the insider owned 8,334 shares in the company, valued at $1,632,880.62. This represents a 29.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 92,430 shares of company stock worth $18,670,055 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Institutional Trading of First Solar

Several large investors have recently made changes to their positions in FSLR. Joule Financial LLC acquired a new stake in First Solar in the third quarter valued at about $950,000. Mirae Asset Global Investments Co. Ltd. boosted its position in First Solar by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after buying an additional 13,904 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in First Solar in the third quarter valued at approximately $1,193,000. National Pension Service boosted its position in First Solar by 24.1% in the third quarter. National Pension Service now owns 41,419 shares of the solar cell manufacturer’s stock valued at $9,134,000 after buying an additional 8,036 shares in the last quarter. Finally, Candriam S.C.A. boosted its position in First Solar by 70.2% in the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer’s stock valued at $33,163,000 after buying an additional 62,048 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

(Get Free Report)

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

Featured Stories