First Solar (FSLR)‘s share price fell more than 6% Monday morning as FSLR share prices fell from $53.99 at close on Friday to trade at $50.38 at 10am EST Monday. The loss came after Merrill Lynch’s Joe Osha changed his rating from buy to underperform, reports Barrons, and is only the most recent decline. FSLR share prices fell over 25% on Tuesday after news of Gillette became public. The share price recovered briefly, moving from $43.27 at close on Tuesday October 25 to finish the week at $53.99, but news of the downgrade is pushing FSLR lower once again.
The following hedge funds lost the most in early trading Monday:
1. Maverick Capital – Lee Ainslie: Lost $8.9 million
2. Generation Investment Management – David Blood, Miguel Nogales, And Al Gore: Lost $3.5 million
3. Seneca Capital – Douglas Hirsch: Lost $1.8 million
4. D E Shaw – D. E. Shaw: Lost $822,000
5. Coatue Management – Philippe Laffont: Lost $649,000
6. Levin Capital Strategies – John A. Levin: Lost $352,000
7. Adage Capital Management – Phill Gross and Robert Atchinson: Lost $274,000
8. Zweig Dimenna Partners – Joe Dimenna: Lost $120,000
9. Citadel Investment Group – Ken Griffin: Lost $118,000
10. Highside Capital Management – Lee Hobson: Lost $99,000
DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in FSLR since the end of June. We did not take into account their option positions.