Castle Hook Partners LP Lowers Holdings in First Solar, Inc. $FSLR

Castle Hook Partners LP trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 34.6% in the 4th quarter, HoldingsChannel reports. The fund owned 443,731 shares of the solar cell manufacturer’s stock after selling 235,044 shares during the quarter. First Solar makes up approximately 0.5% of Castle Hook Partners LP’s holdings, making the stock its 26th biggest holding. Castle Hook Partners LP’s holdings in First Solar were worth $115,916,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Atlatl Advisers LLC purchased a new position in shares of First Solar during the fourth quarter worth $1,697,000. Vanguard Group Inc. boosted its position in shares of First Solar by 3.5% during the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock worth $3,026,108,000 after buying an additional 464,130 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Solar by 1,054.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer’s stock worth $13,641,000 after buying an additional 47,695 shares during the period. Lee Johnson Capital Management LLC purchased a new position in shares of First Solar during the fourth quarter worth $5,304,000. Finally, Bornite Capital Management LP purchased a new position in shares of First Solar during the third quarter worth $22,053,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 566 shares of First Solar stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $122,046.58. Following the completion of the transaction, the insider directly owned 19,918 shares in the company, valued at approximately $4,294,918.34. This trade represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the completion of the transaction, the chief financial officer owned 30,712 shares of the company’s stock, valued at approximately $6,622,428.56. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 32,466 shares of company stock valued at $8,014,105 in the last 90 days. Insiders own 0.39% of the company’s stock.

First Solar Trading Down 3.6%

NASDAQ:FSLR opened at $254.80 on Thursday. The firm has a market cap of $27.38 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. The stock has a fifty day moving average price of $236.08 and a 200 day moving average price of $233.38. First Solar, Inc. has a 12-month low of $139.26 and a 12-month high of $320.95. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.First Solar’s revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted $1.95 earnings per share. Sell-side analysts anticipate that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird restated a “neutral” rating and set a $205.00 price target (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Susquehanna lowered their price target on First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research report on Thursday, April 9th. Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. DZ Bank upgraded First Solar to a “strong sell” rating in a research report on Thursday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered First Solar from a “buy” rating to a “hold” rating and decreased their target price for the company from $300.00 to $245.00 in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $249.78.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.