First Photo voltaic is buying photo voltaic cell tech agency Evolar

First Photo voltaic Inc (NASDAQ:FSLR) inventory is hovering as we speak, after the choice power firm introduced the acquisition of Sweden-based photo voltaic cell tech agency Evolar AB for $38 million upfront, and an extra $42 million topic to milestones achieved. Eventually look, FSLR was up 19.1% at $218.19, and earlier hit a document excessive of $222.00. 

The choices pits are buzzing in response. Thus far, 42,000 calls and 24,000 places have been exchanged, which is already 2.7 instances the common every day quantity. The Might 225 name is probably the most lively, with new positions opening there. 

First Photo voltaic inventory is now up roughly 50% for the reason that begin of 2023, staging a pleasant bounce from its 160-day shifting common. FSLR could have been overdue for a short-term bounce, per its 14-day relative energy index (RSI) of 26.4, which sits in “oversold” territory. 

There’s nonetheless room for overdue bull notes. Of the 21 analysts in protection, 9 preserve a “maintain” or “sturdy promote” score. Plus, the 12-month consensus worth goal of $214.72, in the meantime, is now a 5% low cost to present ranges.