Domini Social Investments Lowers stake in First Solar (FSLR)

First Solar (FSLR) : Domini Social Investments reduced its stake in First Solar by 20.44% during the most recent quarter end. The investment management company now holds a total of 5,442 shares of First Solar which is valued at $211,095 after selling 1,398 shares in First Solar , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.First Solar makes up approximately 8.62% of Domini Social Investments’s portfolio.

Other Hedge Funds, Including , Bronfman E.l. Rothschild reduced its stake in FSLR by selling 6 shares or 1.57% in the most recent quarter. The Hedge Fund company now holds 377 shares of FSLR which is valued at $14,624.Credit Agricole S A boosted its stake in FSLR in the latest quarter, The investment management firm added 66,169 additional shares and now holds a total of 80,897 shares of First Solar which is valued at $3,137,995. First Solar makes up approx 0.01% of Credit Agricole S A’s portfolio. Trexquant Investment Lp sold out all of its stake in FSLR during the most recent quarter. The investment firm sold 8,600 shares of FSLR which is valued $333,594. Wedge Capital Management L L Pnc sold out all of its stake in FSLR during the most recent quarter. The investment firm sold 500,097 shares of FSLR which is valued $23,344,528. Gvo Asset Management Ltd added FSLR to its portfolio by purchasing 39,000 company shares during the most recent quarter which is valued at $1,870,050. First Solar makes up approx 0.21% of Gvo Asset Management Ltd’s portfolio.

First Solar opened for trading at $37.69 and hit $38.04 on the upside on Monday, eventually ending the session at $37.59, with a gain of 0.16% or 0.06 points. The heightened volatility saw the trading volume jump to 22,03,202 shares. Company has a market cap of $3,848 M.

On the company’s financial health, First Solar reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $934.00 million for the quarter, compared to analysts expectations of $862.68 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on First Solar. Shares were Reiterated by Barclays on Aug 10, 2016 to “Overweight” and Lowered the Price Target to $ 50 from a previous price target of $68 .Shares were Reiterated by Mizuho on Aug 10, 2016 to “Neutral” and Lowered the Price Target to $ 46 from a previous price target of $67 .Shares were Downgraded by Deutsche Bank on Jul 7, 2016 to ” Hold” and Lowered the Price Target to $ 44 from a previous price target of $80 .

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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