First Solar Sees Unusually High Options Volume (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) was the target of unusually large options trading on Thursday. Stock investors purchased 40,306 call options on the company. This is an increase of 61% compared to the typical volume of 24,998 call options.

Insider Buying and Selling

In other news, EVP Samantha Sloan sold 127 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $222.95, for a total transaction of $28,314.65. Following the transaction, the executive vice president owned 2,018 shares of the company’s stock, valued at approximately $449,913.10. The trade was a 5.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Koralewski sold 7,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the completion of the sale, the insider directly owned 7,642 shares of the company’s stock, valued at $1,692,779.42. This represents a 47.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,881 shares of company stock worth $3,617,086 in the last quarter. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in First Solar in the 2nd quarter valued at $3,310,298,000. Hill City Capital LP acquired a new stake in shares of First Solar during the 2nd quarter valued at about $620,133,555. Norges Bank bought a new stake in First Solar in the fourth quarter valued at about $392,040,000. Deutsche Bank AG bought a new stake in First Solar in the second quarter valued at about $212,626,000. Finally, Polar Capital Holdings Plc acquired a new position in First Solar in the fourth quarter worth about $200,109,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 5.5%

Shares of First Solar stock traded up $10.51 during trading hours on Thursday, hitting $201.58. 1,928,771 shares of the company were exchanged, compared to its average volume of 2,362,987. First Solar has a 1 year low of $182.99 and a 1 year high of $320.95. The business has a 50-day moving average of $214.81 and a 200-day moving average of $221.22. The stock has a market capitalization of $21.66 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.54 and a beta of 1.74.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $3.18 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, research analysts anticipate that First Solar will post 17.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent research reports. Robert W. Baird set a $318.00 price objective on First Solar and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. TD Cowen reissued a “buy” rating on shares of First Solar in a research note on Monday, July 20th. HC Wainwright began coverage on First Solar in a research report on Thursday, August 27th. They issued a “buy” rating on the stock. Wells Fargo & Company lifted their price objective on First Solar from $300.00 to $313.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group set a $196.00 price objective on First Solar in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.06.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar said it will continue pursuing existing TOPCon patent-infringement lawsuits in U.S. District Court and retains the option to refile the USITC complaint later. The company described the move as a strategic recalibration following new Section 232 actions and polysilicon tariffs, which may reduce the immediate need for an ITC trade remedy. First Solar drops ITC patent case, shifts focus to lawsuits against rivals
• Positive Sentiment: Maintaining the federal lawsuits preserves First Solar’s ability to seek damages or other remedies for alleged TOPCon patent infringement while avoiding the cost and complexity of the current ITC investigation. First Solar Recalibrates TOPCon IP Enforcement Strategy Following Section 232 Action
• Neutral Sentiment: First Solar has drawn heightened investor attention in recent solar-stock screens and market commentary, but these items provide limited new information about earnings, demand, or valuation. Here is What to Know Beyond Why First Solar Is a Trending Stock
• Negative Sentiment: The withdrawal was viewed by the market as a loss of a potentially powerful near-term enforcement tool against competitors. That interpretation contributed to a sharp decline in FSLR during the latest session, with the stock underperforming the broader market. First Solar Declines More Than Market

About First Solar

First Solar, Inc is a renewable energy technology company that designs and manufactures photovoltaic (PV) solar modules. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe). The company also provides supporting services, including project development, engineering, procurement and construction support, operations and maintenance, and module recycling.

First Solar primarily serves utility-scale solar developers, system owners and operators, commercial customers, and government entities.