Check Out What Whales Are Doing With FSLR

Deep-pocketed investors have adopted a bearish approach towards First Solar FSLR, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FSLR usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for First Solar. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 35% leaning bullish and 52% bearish. Among these notable options, 5 are puts, totaling $309,278, and 12 are calls, amounting to $444,281.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $170.0 to $260.0 for First Solar over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for First Solar options trades today is 1887.54 with a total volume of 1,213.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for First Solar's big money trades within a strike price range of $170.0 to $260.0 over the last 30 days.

First Solar Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About First Solar

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.

In light of the recent options history for First Solar, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of First Solar

• Trading volume stands at 702,861, with FSLR's price down by -3.88%, positioned at $219.52.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 70 days.

What The Experts Say On First Solar

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $308.2.

• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for First Solar, targeting a price of $290.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for First Solar, targeting a price of $250.
• An analyst from UBS has decided to maintain their Buy rating on First Solar, which currently sits at a price target of $360.
• Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for First Solar, targeting a price of $326.
• An analyst from RBC Capital downgraded its action to Outperform with a price target of $315.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for First Solar with Benzinga Pro for real-time alerts.