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

First Solar, Inc. (NASDAQ:FSLR) saw unusually large options trading on Tuesday. Investors bought 37,161 call options on the company. This is an increase of approximately 22% compared to the average daily volume of 30,533 call options.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FSLR. Bank of America cut their price target on First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Oppenheimer upped their price target on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Clarkson Capital began coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $288.46.

First Solar Price Performance

NASDAQ FSLR opened at $201.40 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The stock has a market capitalization of $21.56 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 0.38 and a beta of 1.44. First Solar has a 1-year low of $129.21 and a 1-year high of $306.77. The business’s fifty day moving average price is $226.51 and its 200-day moving average price is $223.39.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. First Solar’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 EPS. On average, equities analysts predict that First Solar will post 13.53 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock valued at $2,405,757 over the last quarter. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaMark Advisors LLC purchased a new stake in shares of First Solar in the 3rd quarter worth $25,000. Atlas Capital Advisors LLC increased its stake in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Solar in the 1st quarter worth $25,000. Summit Securities Group LLC purchased a new stake in First Solar in the 2nd quarter worth $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in First Solar in the 2nd quarter worth $38,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.