First Solar Inc’s recently made public that its Chief Commercial Officer ANTOUN GEORGES unloaded Company’s shares for reported $0.42 million on Apr 04 ’24. In the deal valued at $176.00 per share,2,400 shares were sold. As a result of this transaction, ANTOUN GEORGES now holds 37,412 shares worth roughly $6.7 million.
Then, Gloeckler Markus sold 1,937 shares, generating $338,975 in total proceeds. Upon selling the shares at $175.00, the Chief Technology Officer now owns 12,536 shares.
Before that, ANTOUN GEORGES sold 2,400 shares. First Solar Inc shares valued at $407,328 were divested by the Chief Commercial Officer at a price of $169.72 per share. As a result of the transaction, ANTOUN GEORGES now holds 39,812 shares, worth roughly $7.14 million.
RBC Capital Mkts initiated its First Solar Inc [FSLR] rating to an Outperform in a research note published on February 14, 2024; the price target was $195. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early January from “an Overweight” to “an Equal weight”. Jefferies began covering FSLR with “Buy” recommendation on December 15, 2023. Morgan Stanley revised its rating on December 08, 2023. It rated FSLR as “an Overweight” which previously was an “an Equal-weight”.
Price Performance Review of FSLR
On Monday, First Solar Inc [NASDAQ:FSLR] saw its stock jump 2.65% to $179.22. Over the last five days, the stock has gained 4.28%. First Solar Inc shares have risen nearly 4.03% since the year began. Nevertheless, the stocks have fallen -11.11% over the past one year. While a 52-week high of $232.00 was reached on 04/08/24, a 52-week low of $129.21 was recorded on 02/05/24. SMA at 50 days reached $154.62, while 200 days put it at $165.45. A total of 2.22 million shares were traded, compared to the trading of 0.83 million shares in the previous session.
Levels Of Support And Resistance For FSLR Stock
The 24-hour chart illustrates a support level at 176.20, which if violated will result in even more drops to 173.19. On the upside, there is a resistance level at 182.10. A further resistance level may holdings at 184.99. The Relative Strength Index (RSI) on the 14-day chart is 71.03, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 12.26, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.60%. Stochastics %K at 88.37% indicates the stock is a selling.
How much short interest is there in First Solar Inc?
A steep rise in short interest was recorded in First Solar Inc stocks on Mar 15, 2024, growing by 0.58 million shares to a total of 4.78 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.2 million shares. There was a rise of 12.13%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.86% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.96.
The most recent change occurred on November 21, 2023 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $188 price target.
