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

First Solar, Inc. (NASDAQ:FSLR) was the target of unusually large options trading on Tuesday. Stock investors acquired 51,551 call options on the company. This is an increase of approximately 82% compared to the average daily volume of 28,320 call options.

Analysts Set New Price Targets

Several analysts recently issued reports on FSLR shares. Redburn Atlantic started coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Royal Bank of Canada decreased their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research report on Thursday, February 27th. Finally, Bank of America reduced their target price on shares of First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $250.58.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This represents a 8.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is owned by insiders.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently made changes to their positions in FSLR. Virtu Financial LLC raised its holdings in shares of First Solar by 38.5% in the 3rd quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock valued at $2,006,000 after purchasing an additional 2,235 shares in the last quarter. Morse Asset Management Inc lifted its holdings in First Solar by 10.7% during the third quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock worth $3,105,000 after buying an additional 1,199 shares during the period. Blankinship & Foster LLC bought a new stake in First Solar during the 3rd quarter valued at $935,000. Peapack Gladstone Financial Corp raised its position in shares of First Solar by 33.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock worth $6,125,000 after acquiring an additional 6,135 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of First Solar by 10.4% during the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock worth $32,835,000 after purchasing an additional 12,439 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

FSLR stock opened at $135.35 on Wednesday. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.19 and a beta of 1.48. First Solar has a twelve month low of $116.56 and a twelve month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $134.91 and its two-hundred day simple moving average is $170.58.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Analysts predict that First Solar will post 13.05 earnings per share for the current year.

About First Solar

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.