Traders Buy High Volume of First Solar Put Options (FSLR)
First Solar, Inc. (NASDAQ:FSLR) was the recipient of some unusual options trading on Thursday. Stock traders bought 866 put options on the company. This is an increase of approximately 214% compared to the average volume of 276 put options.
Shares of First Solar (FSLR) opened at 36.65 on Friday. The firm’s 50-day moving average price is $34.87 and its 200 day moving average price is $32.69. The company’s market cap is $3.82 billion. First Solar has a 12 month low of $25.56 and a 12 month high of $50.40.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.38. The business had revenue of $891.79 million during the quarter, compared to the consensus estimate of $699.15 million. First Solar had a net margin of 14.72% and a return on equity of 9.58%. Equities research analysts anticipate that First Solar will post $0.54 earnings per share for the current fiscal year.
In other news, Director J Thomas Presby acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $36.89 per share, with a total value of $147,560.00. Following the completion of the purchase, the director now directly owns 17,958 shares in the company, valued at $662,470.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bryan Robert Schumaker sold 2,747 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $35.00, for a total value of $96,145.00. Following the completion of the transaction, the insider now directly owns 1,235 shares in the company, valued at approximately $43,225. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in First Solar by 3.6% in the first quarter. Public Employees Retirement System of Ohio now owns 42,052 shares of the solar cell manufacturer’s stock valued at $1,140,000 after buying an additional 1,477 shares during the period. Boston Common Asset Management LLC increased its position in shares of First Solar by 4.4% in the first quarter. Boston Common Asset Management LLC now owns 15,615 shares of the solar cell manufacturer’s stock worth $423,000 after buying an additional 660 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of First Solar by 21.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 13,700 shares of the solar cell manufacturer’s stock worth $371,000 after buying an additional 2,400 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of First Solar during the first quarter worth approximately $212,000. Finally, HighTower Advisors LLC increased its position in shares of First Solar by 13.2% in the first quarter. HighTower Advisors LLC now owns 22,791 shares of the solar cell manufacturer’s stock worth $617,000 after buying an additional 2,662 shares during the last quarter. Institutional investors and hedge funds own 58.02% of the company’s stock.
Several research analysts recently issued reports on FSLR shares. Vetr cut First Solar from a “strong-buy” rating to a “buy” rating and set a $38.00 price objective on the stock. in a research note on Thursday, February 16th. Credit Suisse Group AG cut First Solar from a “neutral” rating to an “underperform” rating and set a $29.00 price objective on the stock. in a research note on Wednesday, February 22nd. Needham & Company LLC reissued a “hold” rating on shares of First Solar in a research note on Wednesday, February 22nd. Robert W. Baird reissued an “outperform” rating and issued a $40.00 price objective on shares of First Solar in a research note on Wednesday, February 22nd. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of First Solar in a research note on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the company. First Solar currently has a consensus rating of “Hold” and a consensus price target of $42.16.
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About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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