First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Tenzing Global Management LLC

Tenzing Global Management LLC lowered its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,000 shares of the solar cell manufacturer's stock after selling 16,250 shares during the period. First Solar comprises approximately 3.3% of Tenzing Global Management LLC's investment portfolio, making the stock its 14th biggest position. Tenzing Global Management LLC's holdings in First Solar were worth $4,406,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Siemens Fonds Invest GmbH lifted its position in shares of First Solar by 147.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer's stock valued at $484,000 after buying an additional 1,640 shares in the last quarter. Shell Asset Management Co. lifted its holdings in First Solar by 22.7% during the fourth quarter. Shell Asset Management Co. now owns 3,333 shares of the solar cell manufacturer's stock valued at $587,000 after purchasing an additional 617 shares in the last quarter. SIR Capital Management L.P. purchased a new position in First Solar during the fourth quarter valued at $4,811,000. Sora Investors LLC acquired a new stake in shares of First Solar in the fourth quarter valued at about $23,297,000. Finally, Royal Bank of Canada increased its stake in shares of First Solar by 218.6% during the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock worth $78,744,000 after purchasing an additional 306,581 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Trading Up 3.0%

FSLR stock traded up $4.66 during mid-day trading on Friday, hitting $161.01. 1,998,127 shares of the company were exchanged, compared to its average volume of 3,090,420. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The firm has a market capitalization of $17.27 billion, a P/E ratio of 13.83, a PEG ratio of 0.19 and a beta of 1.46. The business has a fifty day simple moving average of $137.32 and a 200-day simple moving average of $162.29. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now directly owns 109,000 shares of the company's stock, valued at $14,492,640. The trade was a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last 90 days. Company insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays lowered their price objective on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. UBS Group reaffirmed a "buy" rating and issued a $255.00 price target on shares of First Solar in a research note on Wednesday, May 14th. Jefferies Financial Group reiterated a "hold" rating and set a $157.00 price target (up from $127.00) on shares of First Solar in a research report on Thursday. Susquehanna decreased their price objective on First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, TD Cowen dropped their target price on shares of First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average price target of $227.37.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.