Tenzing Global Management LLC Sells 16,250 Shares of First Solar, Inc. (NASDAQ:FSLR)

Tenzing Global Management LLC reduced its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,000 shares of the solar cell manufacturer's stock after selling 16,250 shares during the quarter. First Solar comprises 3.3% of Tenzing Global Management LLC's holdings, making the stock its 14th largest holding. Tenzing Global Management LLC's holdings in First Solar were worth $4,406,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Banque Transatlantique SA bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of First Solar during the fourth quarter valued at approximately $54,000. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Mizuho upgraded First Solar from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Piper Sandler lowered their target price on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Redburn Atlantic began coverage on shares of First Solar in a report on Monday, March 3rd. They issued a "neutral" rating on the stock. Wells Fargo & Company decreased their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Royal Bank of Canada decreased their price target on First Solar from $237.00 to $214.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $226.30.

First Solar Stock Performance

Shares of FSLR stock traded up $2.30 on Tuesday, hitting $167.22. 6,087,508 shares of the stock were exchanged, compared to its average volume of 3,116,252. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $17.93 billion, a PE ratio of 14.40, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The firm's 50 day moving average is $136.24 and its two-hundred day moving average is $162.67.

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

Insider Transactions at First Solar

In other news, General Counsel Jason E. Dymbort sold 363 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $48,551.25. Following the completion of the sale, the general counsel now owns 22,273 shares in the company, valued at approximately $2,979,013.75. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 229 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the sale, the insider now owns 52,836 shares of the company's stock, valued at approximately $7,066,815. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is owned by company insiders.

First Solar Profile

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.