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Potential Price Increase for First Solar Inc (FSLR) After Recent Insider Activity

First Solar Inc’s recently made public that its Chief Executive Officer Widmar Mark R unloaded Company’s shares for reported $10.03 million on Jun 03 ’24. In the deal valued at $273.26 per share,36,692 shares were sold. As a result of this transaction, Widmar Mark R now holds 81,861 shares worth roughly $22.9 million.

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Then, Dymbort Jason E. sold 2,308 shares, generating $630,684 in total proceeds. Upon selling the shares at $273.26, the General Counsel and Secretary now owns 13,351 shares.

Before that, Bradley Alexander R. sold 16,051 shares. First Solar Inc shares valued at $4,409,007 were divested by the Chief Financial Officer at a price of $274.69 per share. As a result of the transaction, Bradley Alexander R. now holds 30,652 shares, worth roughly $8.58 million.

Mizuho downgraded its First Solar Inc [FSLR] rating to a Neutral from a a Buy in a research note published on May 30, 2024; the price target was increased to $274 from $209. A number of analysts have revised their coverage, including DZ Bank’s analysts, who decreased its forecast for the stock in late May from “a Buy” to “a Hold”. Evercore ISI also remained covering FSLR and has increased its forecast on April 23, 2024 with a “an Outperform” recommendation from previously “an In-line” rating. Wells Fargo revised its rating on April 19, 2024. 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 4.66% to $279.80. Over the last five days, the stock has gained 2.60%. First Solar Inc shares have risen nearly 62.41% since the year began. Nevertheless, the stocks have risen 45.48% over the past one year. While a 52-week high of $286.60 was reached on 05/29/24, a 52-week low of $129.21 was recorded on 02/05/24. SMA at 50 days reached $205.79, while 200 days put it at $169.15. A total of 3.44 million shares were traded, compared to the trading of 2.56 million shares in the previous session.

Levels Of Support And Resistance For FSLR Stock

The 24-hour chart illustrates a support level at 267.26, which if violated will result in even more drops to 254.72. On the upside, there is a resistance level at 288.15. A further resistance level may holdings at 296.50. The Relative Strength Index (RSI) on the 14-day chart is 74.95, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.11, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.64%. Stochastics %K at 85.76% indicates the stock is a selling.

The most recent change occurred on April 17, 2024 when DZ Bank began covering the stock and recommended ‘”a Buy”‘ rating.

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