Editor’s Note: Related tickers: First Solar, Inc. (NASDAQ:FSLR)
First Solar to begin 50 MW solar power project in New Mexico (PennEnergy)
First Solar, Inc. (NASDAQ:FSLR) has been granted a power purchase agreement (PPA) from the New Mexico Public Regulatory Commission, clearing the way for First Solar, Inc. (NASDAQ:FSLR) to begin construction on the state’s largest solar power plant to be located on State Trust Land in Luna County. The PPA will provide El Paso Electric Power with 50 MW of solar energy for 25 years. “This 50 megawatt solar power project will provide about 300 jobs during the construction phase, which is a huge boost to New Mexico’s ailing construction industry, and it will provide a constant stream of revenue for our public schools, universities and hospitals,” said State Land Commissioner Ray Powell.
First Solar Now Covered by Analysts at Maxim Group (FSLR) (TickerReport)
Maxim Group began coverage on shares of First Solar, Inc. (NASDAQ:FSLR) in a research note issued to investors on Wednesday, StockRatingsNetwork reports. The firm issued a sell rating and a $42.00 price target on the stock. Shares of First Solar (NASDAQ: FSLR) traded down 0.75% during mid-day trading on Wednesday, hitting $52.86. First Solar, Inc. (NASDAQ:FSLR) has a 52 week low of $11.43 and a 52 week high of $41.00. The stock’s 50-day moving average is currently $30.43. The company has a market cap of $4.641 billion and a P/E ratio of 11.31.
Hedge Funds Are Selling First Solar, Inc. (FSLR) (InsiderMonkey)
Is First Solar, Inc. (NASDAQ:FSLR) worth your attention right now? Money managers are turning less bullish. The number of long hedge fund bets were trimmed by 1 recently. In today’s marketplace, there are tons of indicators market participants can use to watch the equity markets. Two of the most innovative are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a significant amount.
Bulls Don’t Blink as First Solar, Inc. (FSLR) Stumbles (SchaeffersResearch)
Solar stocks are trading lower today, following this weekend’s cautious article in Barron’s (subscription required), in which the author contemplated the volatility of the sector. First Solar, Inc. (NASDAQ:FSLR) is one of the laggards, with the shares off around 4% to trade at $52.10. Given the equity’s impressive 69% year-to-date advance, this negative price action has done little to shake bulls loose. At last check, 10,000 calls have crossed the tape, compared to 6,415 puts. First Solar, Inc. (NASDAQ:FSLR)’s June 55 call is the most active strike, where 1,225 contracts have traded, mostly at the ask price. Implied volatility is 5 percentage points higher, and data from the International Securities Exchange (ISE) confirms that a number of positions have been bought to open.