Stock Traders Buy Large Volume of Put Options on First Solar (FSLR)
Shares of First Solar (NASDAQ:FSLR) were the target of some unusual options trading activity on Tuesday. Stock investors acquired 6,343 put options on the company, Analyst Ratings News reports. This is an increase of approximately 108% compared to the typical volume of 3,052 put options.
A number of research firms have recently commented on FSLR. 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. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.41.
First Solar (NASDAQ:FSLR) traded up 3.41% on Tuesday, hitting $69.13. The stock had a trading volume of 4,874,850 shares. First Solar has a 52-week low of $35.59 and a 52-week high of $74.84. The stock has a 50-day moving average of $63.41 and a 200-day moving average of $59.67. The company has a market cap of $6.922 billion and a price-to-earnings ratio of 16.22.
First Solar (NASDAQ:FSLR) last released its earnings data on Tuesday, May 6th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. Analysts expect that First Solar will post $2.68 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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