Ecofin Ltd Lowers stake in First Solar (FSLR)

First Solar (FSLR) : Ecofin Ltd reduced its stake in First Solar by 44.67% during the most recent quarter end. The investment management company now holds a total of 440,700 shares of First Solar which is valued at $21.4 Million after selling 355,865 shares in First Solar , the firm said in a disclosure report filed with the SEC on May 13, 2016.First Solar makes up approximately 3.63% of Ecofin Ltd’s portfolio.

Other Hedge Funds, Including , Stevens Capital Management Lp added FSLR to its portfolio by purchasing 12,152 company shares during the most recent quarter which is valued at $590,101. First Solar makes up approx 0.02% of Stevens Capital Management Lp’s portfolio.Wesbanco Bank Inc reduced its stake in FSLR by selling 50 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 5,000 shares of FSLR which is valued at $242,800. First Solar makes up approx 0.01% of Wesbanco Bank Inc’s portfolio.South Texas Money Management Ltd reduced its stake in FSLR by selling 1,119 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 279,880 shares of FSLR which is valued at $13.6 Million. First Solar makes up approx 0.78% of South Texas Money Management Ltd’s portfolio.Teachers Advisors Inc reduced its stake in FSLR by selling 52,003 shares or 29.17% in the most recent quarter. The Hedge Fund company now holds 126,268 shares of FSLR which is valued at $6.5 Million. First Solar makes up approx 0.01% of Teachers Advisors Inc’s portfolio.

First Solar opened for trading at $51.01 and hit $51.33 on the upside on Wednesday, eventually ending the session at $50.56, with a gain of 0.20% or 0.1 points. The heightened volatility saw the trading volume jump to 20,26,326 shares. Company has a market cap of $5,170 M.

On the company’s financial health, First Solar reported $1.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.63 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.97. The company had revenue of $848.00 million for the quarter, compared to analysts expectations of $940.04 million. The company’s revenue was up 80.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.62 EPS.

Many Wall Street Analysts have commented on First Solar. First Solar was Upgraded by Standpoint Research to ” Buy” on Apr 29, 2016. Shares were Reiterated by Barclays on Apr 29, 2016 to “Overweight” and Lowered the Price Target to $ 68 from a previous price target of $90 .First Solar was Initiated by Guggenheim to “Buy” on Apr 13, 2016.

First Solar Inc. is a global provider of solar energy solutions. The Company designs manufactures and sells photovoltaic (PV) solar modules and also develops designs constructs and sells PV solar power solutions. The Company operates through two segments: components and systems. The Company’s components segment involves the design manufacture and sale of solar modules which convert sunlight into electricity. The systems segment provides turn-key PV solar power systems or solar solutions for systems primarily using its solar modules. The Company also manufactures crystalline silicon solar modules and single-axis mounting systems with tracking capabilities. The Company offers its products and services for residential commercial and industrial applications including solar power system project developers system integrators and solar plant operators throughout the Americas Asia Australia the Middle East and Africa.

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