First Solar, Inc. (NASDAQ:FSLR – Get Rating) saw some unusual options trading activity on Tuesday. Stock traders bought 46,971 put options on the stock. This represents an increase of approximately 61% compared to the average volume of 29,259 put options.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on FSLR shares. Susquehanna boosted their price objective on shares of First Solar from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Friday, September 9th. Cowen increased their price target on shares of First Solar from $167.00 to $175.00 in a report on Friday, October 28th. UBS Group raised their target price on shares of First Solar from $76.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 28th. TheStreet downgraded shares of First Solar from a “b-” rating to a “c” rating in a report on Friday, October 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Solar in a research report on Monday, November 14th. They set a “buy” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $161.96.
First Solar Trading Up 0.3 %
FSLR traded up $0.55 on Tuesday, hitting $165.94. 48,404 shares of the company were exchanged, compared to its average volume of 3,069,957. The firm has a fifty day simple moving average of $138.17 and a two-hundred day simple moving average of $104.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.10 and a current ratio of 4.09. First Solar has a 12 month low of $59.60 and a 12 month high of $167.59. The stock has a market capitalization of $17.69 billion, a PE ratio of 186.75 and a beta of 1.26.
First Solar (NASDAQ:FSLR – Get Rating) last released its earnings results on Thursday, October 27th. The solar cell manufacturer reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.30). The firm had revenue of $629.00 million during the quarter, compared to analysts’ expectations of $747.97 million. First Solar had a net margin of 3.75% and a return on equity of 1.61%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Sell-side analysts expect that First Solar will post -0.51 earnings per share for the current year.
Insider Activity at First Solar
In other news, Director R Craig Kennedy sold 600 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $125.68, for a total value of $75,408.00. Following the transaction, the director now directly owns 18,888 shares of the company’s stock, valued at $2,373,843.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co bought a new stake in shares of First Solar in the third quarter worth $25,000. TCI Wealth Advisors Inc. grew its holdings in shares of First Solar by 370.7% in the third quarter. TCI Wealth Advisors Inc. now owns 193 shares of the solar cell manufacturer’s stock worth $26,000 after acquiring an additional 152 shares during the period. Asset Dedication LLC bought a new stake in shares of First Solar in the third quarter worth $35,000. First Horizon Advisors Inc. grew its holdings in First Solar by 214.5% during the third quarter. First Horizon Advisors Inc. now owns 261 shares of the solar cell manufacturer’s stock valued at $33,000 after purchasing an additional 178 shares during the period. Finally, Ellevest Inc. grew its holdings in First Solar by 97.8% during the third quarter. Ellevest Inc. now owns 267 shares of the solar cell manufacturer’s stock valued at $35,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.
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.
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Read More: First Solar Sees Unusually High Options Volume (NASDAQ:FSLR)