Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. First Solar Inc shares valued at $407,328 were sold by ANTOUN GEORGES on Apr 01 ’24. At $169.72 per share, ANTOUN GEORGES sold 2,400 shares. The insider’s holdings dropped to 39,812 shares worth approximately $6.83 million following the completion of this transaction.
Also, ANTOUN GEORGES sold 356 shares, netting a total of over 52,008 in proceeds. Following the sale of shares at $146.09 each, the insider now holds 42,212 shares.
Before that, Gloeckler Markus had sold 470 shares from its account. In a trade valued at $70,500, the Chief Technology Officer traded First Solar Inc shares for $150.00 each. Upon closing the transaction, the insider’s holdings decreased to 470 shares, worth approximately $2.48 million.
As published in their initiating research note from RBC Capital Mkts on February 14, 2024, First Solar Inc [FSLR] has been an Outperform and the price target has been revised to $195. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early January. As of December 15, 2023, Jefferies has initiated its “Buy” rating for FSLR. Earlier on December 08, 2023, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for FSLR stock which previously was a “an Equal-weight”.
Analyzing FSLR Stock Performance
During the last five days, there has been a surge of approximately 2.39%. Over the course of the year, First Solar Inc shares have dropped approximately -0.48%. Shares of the company reached a 52-week high of $177.89 on 01/02/24 and a 52-week low of $135.88 on 02/05/24. A 50-day SMA is recorded $153.50, while a 200-day SMA reached $165.53. Nevertheless, trading volume fell to 3.39 million shares from 1.25 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 167.33, which, if violated, would cause prices to drop to 163.19. In the upper region, resistance lies at 176.47. The next price resistance is at 181.47. RSI (Relative Strength Index) is 65.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.68, which suggests the price will increase in the coming days. Percent R is at 18.63%, indicating bullish 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 rise in short interest on Mar 15, 2024 jumping by 0.58 million shares to 4.78 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.2 million shares. A jump of 12.13% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.96 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.96.
