First Solar Inc. (FSLR) declined nearly 20% after disclosing unexpectedly low sales figures in its FY 2012 guidance. According to Reuters, First Solor reported expected net revenue in the range of $3.7 to $4.0 billion, and expected EPS in the range of $3.75 to $4.25. However, analysts were expecting the company to report revenue $4.1 billion and EPS of $7.42.
Recently First Solar was listed by UBS among “15 stocks that tons of people are shorting”. SEC data also shows several FSLR’s insiders were selling the stock during the third quarter.
FSLR closed on Tuesday at $42.57. Now the stock has dropped $8.70, or 20.44%, and is trading at $33.87. Here is a list of hedge funds that lost a ton of money in First Solar.
1. Maverick Capital – Lee Ainslie: loses $31,15 million
2. Generation Investment Management – David Blood and Al Gore: loses $11,73 million
3. Legg Mason Capital Management – Bill Miller: loses $3,02 million
4. David E. Shaw – D. E. Shaw: loses $2,94 million
5. Mason Capital Management – Kenneth Mario Garschina: loses $1,84 million
6. SAC Capital Advisors – Steven Cohen: loses $1,69 million
7. Coatue Management – Philippe Laffont: loses $1,51 million
8. Renaissance Technologies – Jim Simons: loses $1,47 million
9. Sandler Capital Management – Andrew Sandler: loses $1,31 million
10. Cavalry Asset Management – John Hurley: loses $1,18 million
DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in FSLR since the end of September. We did not take into account their option positions.