Insider Trading Report: First Solar (FSLR)

Georges Antoun, Chief Commercial Officer at First Solar (FSLR), recently picked up 9,946 shares. The buy increased his holdings by 36 percent, and came to a total price just under $1 million.

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  • He was joined by the company’s Chief Quality Officer, who picked up 489 shares, paying about $50,000 to do so. And earlier in the month, the company CFO picked up nearly 2,000 shares for about $200,000. These mark the only insider buys at the company in the past three years.

    Overall, insider at the solar panel manufacturing and design company own about 10.7 percent of shares.

    The company is up about 8 percent over the past year, outperforming the S&P 500 by nearly 15 points. That’s occurred even as the company has seen earnings shrink by nearly one-third, and as the company saw a slight dip in revenue last year.

    Action to take: The recent climate bill that just passed the Senate is on track to be approved. That could lead most solar companies higher in the short-term. Even with the stock recently trending higher, investors now could get a quick double-digit pop in shares in the coming weeks.

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  • For traders, the January 2023 $125 calls, last trading near $7.40, offer a mid-to-high double-digit return potential on a further rally in shares in the coming weeks. Traders should look for any big rally day to take quick profits.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.