Traders Purchase High Volume of Put Options on First Solar (FSLR)
First Solar, Inc. (NASDAQ:FSLR) was the recipient of some unusual options trading on Monday. Traders purchased 15,980 put options on the company. This is an increase of 473% compared to the average daily volume of 2,790 put options.
First Solar (FSLR) opened at 51.41 on Friday. First Solar has a 52-week low of $25.56 and a 52-week high of $53.00. The stock has a 50 day moving average price of $47.85 and a 200 day moving average price of $38.35. The firm’s market cap is $5.37 billion.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.60. The company had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. First Solar’s revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Equities analysts predict that First Solar will post $2.11 earnings per share for the current fiscal year.
In other First Solar news, insider Raffi Garabedian sold 5,800 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.83, for a total value of $289,014.00. Following the completion of the transaction, the insider now directly owns 11,474 shares of the company’s stock, valued at $571,749.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alexander R. Bradley sold 566 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the completion of the transaction, the chief financial officer now directly owns 963 shares of the company’s stock, valued at $46,859.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,674 shares of company stock valued at $4,655,846. Insiders own 0.58% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Bank of Nova Scotia bought a new stake in shares of First Solar in the 1st quarter worth approximately $212,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of First Solar by 57.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after purchasing an additional 950 shares during the period. Fiduciary Trust Co. bought a new stake in shares of First Solar in the 2nd quarter worth approximately $128,000. NEXT Financial Group Inc raised its holdings in shares of First Solar by 23.9% in the 2nd quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after purchasing an additional 975 shares during the period. Finally, Parsec Financial Management Inc. bought a new stake in shares of First Solar in the 2nd quarter worth approximately $204,000. 53.08% of the stock is currently owned by institutional investors.
FSLR has been the topic of a number of research reports. Deutsche Bank AG restated a “hold” rating and issued a $38.00 price target (up from $36.00) on shares of First Solar in a report on Sunday, May 28th. ValuEngine lowered First Solar from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded First Solar from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Morgan Stanley restated an “equal weight” rating on shares of First Solar in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the stock. First Solar currently has an average rating of “Hold” and a consensus target price of $45.56.
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About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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