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

In a filing, First Solar Inc revealed its Chief Manufacturing Officer Verma Kuntal Kumar unloaded Company’s shares for reported $0.42 million on Jun 20 ’24. In the deal valued at $260.00 per share,1,621 shares were sold. As a result of this transaction, Verma Kuntal Kumar now holds 3,549 shares worth roughly $0.8 million.

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Then, Widmar Mark R sold 36,692 shares, generating $10,026,456 in total proceeds. Upon selling the shares at $273.26, the Chief Executive Officer now owns 81,861 shares.

Before that, Dymbort Jason E. sold 2,308 shares. First Solar Inc shares valued at $630,684 were divested by the General Counsel and Secretary at a price of $273.26 per share. As a result of the transaction, Dymbort Jason E. now holds 13,351 shares, worth roughly $3.01 million.

Deutsche Bank reiterated its First Solar Inc [FSLR] rating to a Buy in a research note published on June 28, 2024; the price target was $280. A number of analysts have revised their coverage, including Janney’s analysts, who decreased its forecast for the stock in mid June from “a Buy” to “a Neutral”. Mizuho also remained covering FSLR and has decreased its forecast on May 30, 2024 with a “Neutral” recommendation from previously “Buy” rating. DZ Bank revised its rating on May 29, 2024. It rated FSLR as “a Hold” which previously was an “a Buy”.

Price Performance Review of FSLR

On Tuesday, First Solar Inc [NASDAQ:FSLR] saw its stock fall -0.83% to $225.23. Over the last five days, the stock has gained 1.13%. First Solar Inc shares have risen nearly 30.73% since the year began. Nevertheless, the stocks have risen 19.08% over the past one year. While a 52-week high of $306.77 was reached on 06/12/24, a 52-week low of $129.21 was recorded on 02/05/24. SMA at 50 days reached $234.51, while 200 days put it at $176.14. A total of 1.57 million shares were traded, compared to the trading of 2.22 million shares in the previous session.

Levels Of Support And Resistance For FSLR Stock

The 24-hour chart illustrates a support level at 222.03, which if violated will result in even more drops to 218.82. On the upside, there is a resistance level at 229.11. A further resistance level may holdings at 232.98. The Relative Strength Index (RSI) on the 14-day chart is 40.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -15.72, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.80%. Stochastics%K at 17.23% indicates the stock is a buying.

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