Investors Buy High Volume of Call Options on First Solar (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) saw unusually large options trading activity on Tuesday. Traders acquired 37,161 call options on the company. This represents an increase of 22% compared to the average daily volume of 30,533 call options.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $315.00 price target on shares of First Solar in a research report on Wednesday, July 31st. UBS Group raised their price target on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets decreased their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Bank of America lowered their price objective on First Solar from $343.00 to $321.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $288.46.

First Solar Stock Performance

Shares of First Solar stock opened at $192.41 on Thursday. First Solar has a one year low of $129.21 and a one year high of $306.77. The business has a 50-day simple moving average of $225.93 and a 200-day simple moving average of $223.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The company has a market cap of $20.60 billion, a PE ratio of 20.17, a P/E/G ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 EPS. On average, equities research analysts forecast that First Solar will post 13.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of institutional investors have recently bought and sold shares of FSLR. Massmutual Trust Co. FSB ADV lifted its position in shares of First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after buying an additional 45 shares during the last quarter. Davis Investment Partners LLC lifted its position in First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after acquiring an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after acquiring an additional 49 shares in the last quarter. Cambridge Trust Co. grew its holdings in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares during the last quarter. Finally, Gilman Hill Asset Management LLC increased its position in shares of First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after purchasing an additional 50 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.