First Solar Target of Unusually Large Options Trading (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) was the target of unusually large options trading activity on Thursday. Investors purchased 40,306 call options on the company. This represents an increase of approximately 61% compared to the average daily volume of 24,998 call options.

Key Stories Impacting 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

First Solar Trading Up 5.5%

Shares of First Solar stock traded up $10.51 during trading hours on Thursday, reaching $201.58. 1,928,771 shares of the company’s stock were exchanged, compared to its average volume of 2,362,987. The stock has a market cap of $21.66 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.54 and a beta of 1.74. The company has a 50 day moving average of $214.81 and a two-hundred day moving average of $221.22. First Solar has a fifty-two week low of $182.99 and a fifty-two week high of $320.95.

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

Insider Activity

In other news, insider Michael Koralewski sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $221.51, for a total value of $1,550,570.00. Following the transaction, the insider directly owned 7,642 shares of the company’s stock, valued at $1,692,779.42. The trade was a 47.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 3,425 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $218.95, for a total value of $749,903.75. Following the completion of the transaction, the chief technology officer directly owned 7,471 shares in the company, valued at approximately $1,635,775.45. This represents a 31.43% 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. Over the last quarter, insiders sold 15,881 shares of company stock valued at $3,617,086. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of large investors have recently made changes to their positions in the company. Root Financial Partners LLC raised its position in First Solar by 18.2% in the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after acquiring an additional 45 shares in the last quarter. Fiduciary Financial Group LLC boosted its position in shares of First Solar by 2.3% during the 2nd quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer’s stock worth $478,000 after purchasing an additional 45 shares in the last quarter. Fielder Capital Group LLC grew its stake in shares of First Solar by 4.1% during the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock worth $312,000 after purchasing an additional 47 shares during the period. Burford Brothers Inc. grew its stake in shares of First Solar by 0.3% during the 1st quarter. Burford Brothers Inc. now owns 19,131 shares of the solar cell manufacturer’s stock worth $3,774,000 after purchasing an additional 51 shares during the period. Finally, Huntington National Bank increased its holdings in shares of First Solar by 7.0% in the 4th quarter. Huntington National Bank now owns 806 shares of the solar cell manufacturer’s stock valued at $211,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial reaffirmed a “hold” rating and issued a $229.00 target price (down from $249.00) on shares of First Solar in a research note on Friday, July 31st. Mizuho set a $324.00 price objective on shares of First Solar in a research report on Thursday, August 13th. Piper Sandler assumed coverage on First Solar in a research note on Wednesday, September 9th. They set an “overweight” rating and a $260.00 price objective on the stock. Oppenheimer reiterated a “market perform” rating on shares of First Solar in a report on Friday, July 31st. Finally, HSBC raised First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. One investment 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $266.06.

First Solar Company Profile

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.