First Solar Stock Added to Analyst Focus List at J.P. Morgan Securities

First Solar stock has been surrounded by call buyers

May 6, 2019 at 9:04 AM
facebook twitter linkedin


First Solar, Inc. (NASDAQ:FSLR) this morning was added to J.P. Morgan Securities' analyst focus list, and the brokerage firm reiterated its "overweight" rating while lifting its price target to $72 from $70. The analysts predict upcoming earnings releases could be strong thanks to a successful transition to the company's Series 6 solar modules.

This just extends a string of bullish analyst attention on FSLR stock, driving the shares to a 45% year-to-date lead. On Friday they touched their highest levels since June. Today the equity is set to open down 1.2% with the broader market, after closing last week at $61.76. Most analysts are already expecting a move near J.P. Morgan's new target, with the average analyst price target coming in at $69.81.

Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows some traders seem to be speculating on more upside in First Solar stock, since the 10-day call/put volume ratio at these exchanges is 6.27 -- ranking in the 98th annual percentile. Looking closer, the June 62.50, 65, and 70 calls all saw large increases in open interest during that two-week span. As it stands now, near-term options seem attractively priced, based on the Schaeffer's Volatility Index (SVI) of 32%, in the 10th annual percentile.

 

 

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners