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

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) saw unusually large options trading activity on Tuesday. Investors purchased 62,922 call options on the stock. This represents an increase of 57% compared to the average daily volume of 40,074 call options.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent analyst reports. KeyCorp cut shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a report on Wednesday, April 30th. Robert W. Baird cut their price target on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Mizuho increased their price target on shares of First Solar from $251.00 to $275.00 and gave the company an "outperform" rating in a report on Monday. Guggenheim cut their price target on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Roth Mkm reiterated a "buy" rating and set a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and an average target price of $227.94.

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 419 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of the company's stock in a transaction dated 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 directly owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,670 shares of company stock worth $2,933,884. Corporate insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Inspire Investing LLC lifted its stake in shares of First Solar by 14.1% in the 1st quarter. Inspire Investing LLC now owns 12,649 shares of the solar cell manufacturer's stock worth $1,599,000 after acquiring an additional 1,564 shares during the period. Strs Ohio acquired a new stake in shares of First Solar in the 1st quarter worth $23,453,000. Ellsworth Advisors LLC acquired a new stake in shares of First Solar in the 1st quarter worth $846,000. Foresight Group Ltd Liability Partnership acquired a new stake in shares of First Solar in the 1st quarter worth $8,783,000. Finally, IFM Investors Pty Ltd lifted its stake in shares of First Solar by 4.0% in the 1st quarter. IFM Investors Pty Ltd now owns 21,879 shares of the solar cell manufacturer's stock worth $2,766,000 after acquiring an additional 836 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Up 2.5%

First Solar stock traded up $4.03 during mid-day trading on Thursday, reaching $163.84. 3,602,557 shares of the company's stock were exchanged, compared to its average volume of 3,064,935. The company has a market cap of $17.57 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.19 and a beta of 1.46. 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 company has a fifty day moving average of $142.44 and a 200-day moving average of $160.01.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. Sell-side analysts expect that First Solar will post 13.05 EPS for the current 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.