First Solar Target of Unusually Large Options Trading (FSLR)
Shares of First Solar (NASDAQ:FSLR) were the recipient of unusually large options trading on Wednesday. Stock investors acquired 22,907 call options on the stock, Analyst Ratings Network reports. This is an increase of 121% compared to the average volume of 10,375 call options.
FSLR has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus initiated coverage on shares of First Solar in a research note on Wednesday, May 28th. They set a “buy” rating and a $75.00 price target on the stock. Separately, analysts at Brean Capital reiterated a “buy” rating on shares of First Solar in a research note on Thursday, May 15th. They now have a $83.00 price target on the stock. Finally, analysts at Goldman Sachs reiterated a “sell” rating on shares of First Solar in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.67.
First Solar (NASDAQ:FSLR) traded up 3.91% during mid-day trading on Wednesday, hitting $65.39. The stock had a trading volume of 7,906,770 shares. First Solar has a 52-week low of $35.59 and a 52-week high of $74.84. The stock’s 50-day moving average is $64.54 and its 200-day moving average is $59.4. The company has a market cap of $6.547 billion and a price-to-earnings ratio of 15.27.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.54. The company had revenue of $950.00 million for the quarter, compared to the consensus estimate of $837.90 million. During the same quarter last year, the company posted $0.69 earnings per share. First Solar’s revenue was up 25.8% compared to the same quarter last year. Analysts expect that First Solar will post $2.66 EPS 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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