Bayesian Capital Management LP Buys New Shares in Canadian Solar Inc. (NASDAQ:CSIQ)

Bayesian Capital Management LP bought a new position in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 29,800 shares of the solar energy provider's stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSIQ. Charles Schwab Investment Management Inc. raised its holdings in Canadian Solar by 59.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider's stock valued at $2,010,000 after acquiring an additional 67,331 shares in the last quarter. Shah Capital Management lifted its position in Canadian Solar by 825.6% in the fourth quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider's stock worth $19,410,000 after purchasing an additional 1,556,964 shares during the period. Barclays PLC increased its holdings in Canadian Solar by 494.4% in the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock valued at $1,932,000 after buying an additional 95,924 shares during the period. Waterfront Wealth Inc. raised its stake in shares of Canadian Solar by 16.9% in the 4th quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider's stock valued at $2,059,000 after buying an additional 26,778 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in shares of Canadian Solar during the 4th quarter worth about $7,738,000. Institutional investors and hedge funds own 52.36% of the company's stock.

Analyst Ratings Changes

CSIQ has been the subject of a number of recent research reports. Citigroup raised Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 target price for the company in a report on Thursday, April 17th. StockNews.com lowered Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. The Goldman Sachs Group decreased their price objective on shares of Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a report on Wednesday, March 26th. Finally, Roth Capital lowered Canadian Solar from a "buy" rating to a "neutral" rating and set a $9.00 price target on the stock. in a research report on Friday, April 25th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.77.

Canadian Solar Stock Up 6.5 %

Shares of NASDAQ CSIQ traded up $0.60 during mid-day trading on Friday, reaching $9.81. 1,191,864 shares of the company's stock traded hands, compared to its average volume of 1,913,900. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. Canadian Solar Inc. has a 1-year low of $6.57 and a 1-year high of $21.05. The stock has a market cap of $649.02 million, a P/E ratio of -81.75, a PEG ratio of 0.74 and a beta of 1.35. The business has a 50-day simple moving average of $8.91 and a 200 day simple moving average of $10.75.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.26). Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same period last year, the business posted ($0.02) EPS. The company's revenue was down 1.8% compared to the same quarter last year. On average, analysts expect that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.