Traders Buy High Volume of First Solar Put Options (FSLR)
First Solar (NASDAQ:FSLR) was the target of some unusual options trading on Monday. Stock traders acquired 12,292 put options on the stock, StockRatingsNetwork.com reports. This is an increase of 111% compared to the average volume of 5,820 put options.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “hold” rating on shares of First Solar in a research note to investors on Tuesday. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of First Solar from a “buy” rating to a “sell” rating in a research note to investors on Monday. They now have a $45.00 price target on the stock, down previously from $61.00. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $41.29.
Shares of First Solar (NASDAQ:FSLR) opened at 53.40 on Tuesday. First Solar has a one year low of $24.46 and a one year high of $65.99. The stock’s 50-day moving average is $57.42 and its 200-day moving average is $48.4. The company has a market cap of $5.310 billion and a P/E ratio of 10.65.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.96 by $1.32. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $988.63 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. The company’s quarterly revenue was up 50.8% on a year-over-year basis. On average, analysts predict that First Solar will post $4.40 earnings per share for the current fiscal year.
First Solar, Inc manufactures and sells photovoltaic (NASDAQ:FSLR) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems.
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