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

Key Points

• First Solar saw unusually heavy options activity on Monday, with investors purchasing 27,989 call options—37% above the average volume.
• Insiders sold 31,893 shares worth approximately $7.9 million over the past 90 days, while institutional investors and hedge funds continue to own a substantial 92.08% of the company.
• Shares rose 12.9% to $238.24, and analysts maintain a “Moderate Buy” consensus with an average price target of $252.96; Guggenheim recently raised its target to $282 and reiterated a “Buy” rating.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors bought 27,989 call options on the company. This represents an increase of 37% compared to the average volume of 20,422 call options.

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 stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the transaction, the insider owned 23,792 shares in the company, valued at approximately $6,557,075.20. This represents a 30.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 409 shares of First Solar stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $88,192.67. Following the completion of the sale, the general counsel directly owned 10,409 shares in the company, valued at $2,244,492.67. This represents a 3.78% decrease in their position. 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 sold a total of 31,893 shares of company stock worth $7,893,775 in the last ninety days. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Pictet Asset Management Holding SA raised its stake in First Solar by 29.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer's stock valued at $224,540,000 after acquiring an additional 258,204 shares during the period. Atlatl Advisers LLC bought a new position in First Solar during the fourth quarter worth $1,697,000. Northwestern Mutual Wealth Management Co. boosted its position in First Solar by 1,054.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer's stock worth $13,641,000 after purchasing an additional 47,695 shares during the period. Genus Capital Management Inc. acquired a new position in shares of First Solar in the fourth quarter valued at $4,525,000. Finally, TABR Capital Management LLC acquired a new position in shares of First Solar in the fourth quarter valued at $5,626,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Key First Solar News

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research upgraded First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Truist Financial restated a "hold" rating and issued a $229.00 target price (down from $249.00) on shares of First Solar in a research note on Friday. Mizuho set a $237.00 price target on shares of First Solar in a research note on Friday. Weiss Ratings upgraded shares of First Solar from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 25th. Finally, Guggenheim lifted their price objective on shares of First Solar from $279.00 to $282.00 and gave the company a "buy" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $252.96.

First Solar Trading Up 12.9%

Shares of NASDAQ FSLR traded up $27.21 during mid-day 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 50-day simple moving average of $245.08 and a two-hundred day simple moving average of $225.14. The company has a market capitalization of $25.60 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.76. First Solar has a one year low of $176.47 and a one year high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the business posted $3.18 EPS. The business's revenue was down 3.4% compared to the same quarter last year. Sell-side analysts expect that First Solar will post 17.53 earnings per share for the current fiscal year.

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.

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