Tenzing Global Management LLC Reduces Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Tenzing Global Management LLC trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 39.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the solar cell manufacturer’s stock after selling 16,250 shares during the quarter. First Solar accounts for approximately 3.3% of Tenzing Global Management LLC’s holdings, making the stock its 14th biggest holding. Tenzing Global Management LLC’s holdings in First Solar were worth $4,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust purchased a new position in First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. bought a new position in First Solar during the fourth quarter valued at $53,000. Banque Transatlantique SA purchased a new stake in shares of First Solar in the fourth quarter valued at $53,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of First Solar in the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

FSLR stock opened at $178.46 on Friday. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.19 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a 50-day simple moving average of $134.97 and a two-hundred day simple moving average of $163.14.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The firm had revenue of $844.57 million for 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 company’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 EPS. On average, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity

In other news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 229 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at $7,066,815. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FSLR shares. Barclays reduced their price objective on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Oppenheimer lowered First Solar from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 30th. UBS Group reaffirmed a “buy” rating and issued a $255.00 price objective on shares of First Solar in a research report on Wednesday. Jefferies Financial Group downgraded First Solar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $202.00 to $127.00 in a research report on Wednesday, April 30th. Finally, Roth Mkm reissued a “buy” rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $224.48.

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.