Barclays upgraded FSLR to “overweight” from “equal weight”
First Solar Inc (NASDAQ:FSLR) stock received an upgrade from Barclays to “overweight” from “equal weight” before the bell this morning, though the firm also cut its price target to $224 from $230. The analyst in coverage noted that FSLR is better positioned than its peers to weather macro risks.
The equity has trimmed its premarket gains, now down 1.6% to trade at $149.11. Several moving averages linger above as potential pressure, including the descending 20-day trendline. Quarter-to-date, FSLR is down 7.2%.
So far in the options pits today, 6,021 puts have been exchanged — nearly double the amount typically seen at this point — compared to 4,108 calls. The October 150 put is the most popular, with new positions opening there.
This shows a bit of a shift in sentiment, as calls have been popular in the options pits of late. FSLR’s 50-day call/put volume ratio of 1.56 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 86% of readings from the past year.