A company insider recently sold 2,400 shares of First Solar Inc [FSLR]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. First Solar Inc shares valued at $422,448 were sold by ANTOUN GEORGES on Dec 19. At $176.02 per share, ANTOUN GEORGES sold 2,400 shares. The insider’s holdings dropped to 42,041 shares worth approximately $6.15 million following the completion of this transaction.

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Also, ANTOUN GEORGES sold 2,400 shares, netting a total of over 379,200 in proceeds. Following the sale of shares at $158.00 each, the insider now holds 44,441 shares.

Before that, Verma Kuntal Kumar had sold 1,621 shares from its account. In a trade valued at $233,683, the Chief Manufacturing Officer traded First Solar Inc shares for $144.16 each. Upon closing the transaction, the insider’s holdings decreased to 1,621 shares, worth approximately $0.24 million.

As published in a research note from Wells Fargo on January 08, 2024, First Solar Inc [FSLR] has been rated down from an Overweight to an Equal weight and the price target has been revised to $187 from $215.

Analyzing FSLR Stock Performance

During the last five days, there has been a drop of approximately -1.73%. Over the course of the year, First Solar Inc shares have dropped approximately -15.08%. Shares of the company reached a 52-week high of $177.89 on 01/02/24 and a 52-week low of $140.07 on 01/19/24. A 50-day SMA is recorded $157.67, while a 200-day SMA reached $175.35. Nevertheless, trading volume fell to 2.36 million shares from 1.35 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 143.26, which, if violated, would cause prices to drop to 140.22. In the upper region, resistance lies at 152.13. The next price resistance is at 157.95. RSI (Relative Strength Index) is 36.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.96, which suggests the price will decrease in the coming days. Percent R is at 73.57%, indicating bearish 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 Jan 11, 2024 dropping by -0.38 million shares to 4.04 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 4.42 million shares. A decline of -9.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.81 of the overall float, the days-to-cover ratio (short ratio) decline to 1.81.

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