First Solar, Inc. (NASDAQ:FSLR – Get Free Report) saw unusually large options trading activity on Friday. Stock investors purchased 32,756 call options on the stock. This represents an increase of approximately 23% compared to the average daily volume of 26,611 call options.
Insider Transactions at First Solar
In other news, CFO Alexander R. Bradley sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $194.36, for a total transaction of $1,068,980.00. Following the completion of the sale, the chief financial officer now owns 40,919 shares in the company, valued at approximately $7,953,016.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Alexander R. Bradley sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $194.36, for a total value of $1,068,980.00. Following the completion of the transaction, the chief financial officer now directly owns 40,919 shares of the company’s stock, valued at approximately $7,953,016.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 12,346 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $202.89, for a total transaction of $2,504,879.94. Following the completion of the transaction, the insider now directly owns 46,841 shares of the company’s stock, valued at $9,503,570.49. The disclosure for this sale can be found here. Insiders sold a total of 34,452 shares of company stock worth $6,833,334 in the last quarter. Insiders own 0.58% of the company’s stock.
Hedge Funds Weigh In On First Solar
Hedge funds have recently modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new position in shares of First Solar in the first quarter valued at about $25,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of First Solar by 172.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 150 shares of the solar cell manufacturer’s stock valued at $33,000 after purchasing an additional 95 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of First Solar during the 1st quarter valued at about $33,000. Spire Wealth Management boosted its stake in shares of First Solar by 67.9% during the 1st quarter. Spire Wealth Management now owns 178 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 72 shares in the last quarter. Finally, Valley National Advisers Inc. bought a new stake in shares of First Solar during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 82.08% of the company’s stock.
First Solar Trading Up 0.5 %
Shares of FSLR stock traded up $0.86 during mid-day trading on Friday, reaching $181.36. The stock had a trading volume of 1,600,367 shares, compared to its average volume of 2,335,365. The stock’s 50-day moving average price is $192.30 and its two-hundred day moving average price is $196.14. First Solar has a 52-week low of $115.66 and a 52-week high of $232.00. The firm has a market capitalization of $19.37 billion, a PE ratio of 125.88 and a beta of 1.40. The company has a current ratio of 3.36, a quick ratio of 2.66 and a debt-to-equity ratio of 0.07.
First Solar (NASDAQ:FSLR – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.90. First Solar had a net margin of 5.23% and a return on equity of 3.13%. The firm had revenue of $810.67 million for the quarter, compared to analysts’ expectations of $720.43 million. Equities analysts expect that First Solar will post 7.87 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have commented on FSLR. Deutsche Bank Aktiengesellschaft raised shares of First Solar from a “hold” rating to a “buy” rating and raised their price target for the company from $220.00 to $235.00 in a report on Friday. Evercore ISI cut their price target on shares of First Solar from $189.00 to $185.00 in a report on Thursday, June 29th. Susquehanna raised their price target on shares of First Solar from $225.00 to $261.00 and gave the company a “positive” rating in a report on Friday, July 28th. Citigroup raised shares of First Solar from a “sell” rating to a “neutral” rating in a report on Wednesday, July 19th. Finally, 51job reaffirmed a “maintains” rating on shares of First Solar in a report on Monday, June 26th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.30.
First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.