Jul. 2 at 8:48 PM
First Solar recorded a 672,700-share block trade valued at approximately
$150 million on Thursday at 8:44 p.m. ET. The shares changed hands at
$222.92, a 3.9% discount to the opening price, with the transaction representing roughly 0.7% of the company's public float.
The sizable trade came during a weak session for the solar manufacturer, as First Solar shares fell 3.2% on Thursday, bringing their year-to-date decline to 15%. Large block trades are typically associated with institutional investors and can significantly increase trading activity, although they do not necessarily signal a change in the company's fundamentals.
The transaction represented about 30% of First Solar's average daily trading volume over the past 20 sessions. By the time the block crossed, total trading volume had already reached 1.88 million shares, well above the typical 1.28 million shares seen at that point in the day.
$FSLR