Stock Traders Purchase High Volume of Call Options on First Solar (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) was the target of some unusual options trading on Wednesday. Investors acquired 36,233 call options on the stock. This represents an increase of approximately 13% compared to the average daily volume of 32,137 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI cut their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays cut their price target on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $273.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC purchased a new position in shares of First Solar in the 3rd quarter worth about $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC boosted its position in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC grew its stake in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in First Solar in the fourth quarter valued at $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 9.6 %

Shares of NASDAQ:FSLR traded up $14.14 during trading on Wednesday, hitting $161.60. The stock had a trading volume of 4,103,217 shares, compared to its average volume of 2,389,405. The company has a market capitalization of $17.30 billion, a PE ratio of 13.90, a PEG ratio of 0.19 and a beta of 1.47. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 12 month low of $144.28 and a 12 month high of $306.77. The firm’s fifty day moving average is $174.55 and its 200 day moving average is $199.38.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Analysts anticipate that First Solar will post 13.05 EPS for the current fiscal year.

About First Solar

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.