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

First Solar, Inc. (NASDAQ:FSLR) was the target of unusually large options trading activity on Monday. Investors bought 27,989 call options on the stock. This is an increase of approximately 37% compared to the average daily volume of 20,422 call options.

First Solar News Summary

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Guggenheim raised its price target for First Solar from $279 to $282 and reiterated a “Buy” rating. The new target implies approximately 18.6% upside from the referenced share price, signaling continued confidence in the company’s valuation and outlook. Guggenheim raises First Solar price target

Insiders Place Their Bets

In other First Solar news, insider Caroline Stockdale sold 10,628 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider directly owned 23,792 shares of the company’s stock, valued at $6,557,075.20. This represents a 30.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the transaction, the chief financial officer directly owned 30,712 shares in the company, valued at approximately $6,622,428.56. This represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,893 shares of company stock worth $7,893,775 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Reflection Asset Management acquired a new position in First Solar in the fourth quarter valued at about $26,000. Commonwealth Retirement Investments LLC bought a new stake in shares of First Solar during the 4th quarter worth approximately $26,000. Larson Financial Group LLC lifted its holdings in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares during the period. Elyxium Wealth LLC acquired a new stake in shares of First Solar during the 4th quarter worth approximately $30,000. Finally, MV Capital Management Inc. acquired a new stake in shares of First Solar during the 4th quarter worth approximately $30,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock traded up $27.21 during trading on Monday, hitting $238.24. The company had a trading volume of 2,724,496 shares, compared to its average volume of 2,368,200. The firm has a market capitalization of $25.60 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.76. The stock’s 50-day moving average price is $245.08 and its 200 day moving average price is $225.14. First Solar has a one year low of $176.47 and a one year high of $320.95.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $3.18 EPS. On average, research analysts anticipate that First Solar will post 17.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FSLR shares. Jefferies Financial Group reissued a “hold” rating and set a $207.00 price target on shares of First Solar in a report on Tuesday, July 21st. Weiss Ratings raised First Solar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Argus lifted their target price on First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Truist Financial reissued a “hold” rating and issued a $229.00 target price (down from $249.00) on shares of First Solar in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $252.96.

First Solar Company Profile

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.