Director KENNEDY R CRAIG sale 600 shares of First Solar Inc. [FSLR]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. First Solar Inc. shares valued at $80,772 were sold by KENNEDY R CRAIG on Sep 15. At $134.62 per share, KENNEDY R CRAIG sold 600 shares. The insider’s holdings dropped to 19,185 shares worth approximately $2.53 million following the completion of this transaction.


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Also, Gloeckler Markus sold 465 shares, netting a total of over 55,214 in proceeds. Following the sale of shares at $118.74 each, the insider now holds 1,373 shares.

Before that, Gloeckler Markus had sold 478 shares from its account. In a trade valued at $55,037, the Chief Technology Officer traded First Solar Inc. shares for $115.14 each. Upon closing the transaction, the insider’s holdings decreased to 478 shares, worth approximately $0.18 million.

As published in a research note from Goldman on September 08, 2022, First Solar Inc. [FSLR] has been rated up from a Sell to a Buy and the price target has been revised to $172 from $60. This represents a 23.39% premium over Thursday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late August. As of August 18, 2022, Morgan Stanley has increased its “an Underweight” rating to a “an Equal-weight” for FSLR. Earlier on August 11, 2022, KeyBanc Capital Markets upgraded its rating. Their new recommendation was “an Overweight” for FSLR stock which previously was a “a Sector weight”.

Analyzing FSLR’s Price Performance

On Thursday, First Solar Inc. [NASDAQ: FSLR] plunged -2.80% to $131.77. The stock’s lowest price that day was $129.555, but it reached a high of $136.30 in the same session. During the last five days, there has been a drop of approximately -0.19%. Over the course of the year, First Solar Inc. shares have jumped approximately 51.18%. Shares of the company reached a 52-week high of $140.64 on 09/21/22 and a 52-week low of $59.60 on 05/12/22. A 50-day SMA is recorded $110.36, while a 200-day SMA reached $84.42. Nevertheless, trading volume fell to 2.5 million shares from 3.11 million shares the previous day.

Support And Resistance Levels for First Solar Inc. (FSLR)

According to the 24-hour chart, there is a support level at 128.78, which, if violated, would cause prices to drop to 125.80. In the upper region, resistance lies at 135.53. The next price resistance is at 139.29. RSI (Relative Strength Index) is 59.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.52, which suggests the price will decrease in the coming days. Percent R is at 53.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is First Solar Inc. subject to short interest?

Stocks of First Solar Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.46 million shares to 3.71 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.17 million shares. A decline of -12.4% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.16 of the overall float, the days-to-cover ratio (short ratio) decline to 2.16.

Which companies own the most shares of First Solar Inc. (FSLR)?

According to BlackRock Fund Advisors filings, the company currently owns 10,514,891 shares, which is about 9.86% of the total FSLR shares outstanding. The investor’s shares have appreciated by 593,693 from its previous 13-F filing of 9921198.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,172,718,042. Wellington Management Co. LLP acquire a 26.49% interest valued at $469.12 million while SSgA Funds Management, Inc. sold a -25,299 stake. A total of 918,640 shares of First Solar Inc. were sold by BlackRock Advisors during the quarter, and 746,273 were bought by Schroder Investment Management Lt. In its current portfolio, Invesco Capital Management LLC holds 2,704,196 shares valued at $344.92 million.

In spite of this, 24 analysts ranked First Solar Inc. stock as an Overweight at the end of 2022. On August 08, 2022, JP Morgan assigned a price target of “an Overweight” to the stock and upgraded coverage with a $126.

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