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

First Solar, Inc. (NASDAQ:FSLR) saw unusually large options trading activity on Thursday. Investors bought 103,077 call options on the stock. This is an increase of 113% compared to the average volume of 48,484 call options.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the transaction, the insider directly owned 5,998 shares of the company’s stock, valued at $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Markus Gloeckler sold 9,557 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer directly owned 8,037 shares in the company, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,376 shares of company stock valued at $2,227,172. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC lifted its position in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of First Solar in the 1st quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in First Solar during the 1st quarter worth approximately $25,000. Colonial Trust Advisors purchased a new position in First Solar during the 1st quarter worth approximately $32,000. Finally, Larson Financial Group LLC raised its position in First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after buying an additional 219 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets reduced their price objective on shares of First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Oppenheimer cut shares of First Solar from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 30th. UBS Group reiterated a “buy” rating and issued a $255.00 target price on shares of First Solar in a research note on Wednesday, May 14th. Royal Bank Of Canada increased their target price on shares of First Solar from $188.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their target price on shares of First Solar from $204.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average target price of $228.69.

First Solar Price Performance

First Solar stock opened at $185.43 on Friday. First Solar has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a market cap of $19.89 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.37 and a beta of 1.52. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $156.66 and its 200 day moving average is $154.83.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 earnings per share. Sell-side analysts forecast that First Solar will post 13.05 EPS for the current fiscal 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.