First Solar, Inc. (NASDAQ:FSLR) is Tenzing Global Management LLC's 4th Largest Position

Tenzing Global Management LLC increased its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 135.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,250 shares of the solar cell manufacturer's stock after buying an additional 23,750 shares during the period. First Solar accounts for approximately 7.3% of Tenzing Global Management LLC's investment portfolio, making the stock its 4th biggest holding. Tenzing Global Management LLC's holdings in First Solar were worth $10,289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Electron Capital Partners LLC increased its position in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer's stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. State Street Corp increased its holdings in First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer's stock worth $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer's stock worth $434,977,000 after purchasing an additional 15,890 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of First Solar by 7.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer's stock valued at $331,924,000 after purchasing an additional 90,249 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of First Solar by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer's stock valued at $179,478,000 after buying an additional 64,265 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $3.33 during mid-day trading on Friday, hitting $194.60. The company had a trading volume of 989,178 shares, compared to its average volume of 2,515,224. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 0.36 and a beta of 1.46. The stock's 50-day moving average price is $204.59 and its 200-day moving average price is $225.72.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $2.50 EPS. The business's revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current year.

Analyst Ratings Changes

FSLR has been the subject of a number of analyst reports. Seaport Res Ptn raised First Solar to a "hold" rating in a research report on Tuesday, November 5th. Evercore ISI dropped their price target on shares of First Solar from $281.00 to $278.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research report on Wednesday, October 9th. Truist Financial assumed coverage on First Solar in a research note on Thursday, September 26th. They issued a "buy" rating and a $300.00 target price on the stock. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $280.71.

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.