Stock Traders Purchase Large Volume of Call Options on First Solar (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) was the recipient of unusually large options trading on Thursday. Investors purchased 103,077 call options on the stock. This is an increase of approximately 113% compared to the typical volume of 48,484 call options.

Analyst Ratings Changes

FSLR has been the subject of several research reports. Robert W. Baird decreased their price target on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. UBS Group reissued a “buy” rating and issued a $255.00 price target on shares of First Solar in a research report on Wednesday, May 14th. Wells Fargo & Company reduced their price objective on First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. KeyCorp cut First Solar from a “sector weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group raised First Solar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $157.00 to $192.00 in a research report on Wednesday, June 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.69.

Insider Transactions at First Solar

In other news, 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 value of $1,481,812.85. Following the completion of the transaction, the chief technology officer owned 8,037 shares in the company, valued at $1,246,136.85. This trade represents a 54.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the sale, the insider owned 5,998 shares in the company, valued at $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,376 shares of company stock valued at $2,227,172. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Large investors have recently made changes to their positions in the stock. Garde Capital Inc. purchased a new position in First Solar during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of First Solar during the 1st quarter valued at about $25,000. Harbor Investment Advisory LLC boosted its stake in shares of First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after buying an additional 219 shares during the last quarter. Finally, Colonial Trust Advisors purchased a new position in First Solar during the first quarter valued at approximately $32,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of FSLR stock opened at $185.43 on Friday. The stock’s 50-day moving average is $155.79 and its 200 day moving average is $154.85. First Solar has a 1-year low of $116.56 and a 1-year high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. The company has a market cap of $19.89 billion, a P/E ratio of 15.77, a PEG ratio of 0.34 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the business earned $2.20 earnings per share. First Solar’s revenue was up 6.4% on a year-over-year basis. Research analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

First Solar Company Profile

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.