BNP Paribas Financial Markets grew its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 323,238 shares of the solar energy provider's stock after acquiring an additional 78,306 shares during the quarter. BNP Paribas Financial Markets owned about 0.49% of Canadian Solar worth $3,594,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. USCF Advisers LLC raised its position in Canadian Solar by 66.7% in the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock valued at $28,000 after purchasing an additional 1,000 shares during the last quarter. Wells Fargo & Company MN grew its stake in Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after acquiring an additional 3,347 shares during the period. Sciencast Management LP acquired a new stake in Canadian Solar in the fourth quarter valued at approximately $113,000. Miracle Mile Advisors LLC bought a new position in Canadian Solar during the 4th quarter valued at $133,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Canadian Solar in the fourth quarter valued at about $177,000. 52.36% of the stock is currently owned by institutional investors.
Canadian Solar Price Performance
Shares of CSIQ stock traded up $0.58 during mid-day trading on Tuesday, hitting $11.26. 422,339 shares of the stock were exchanged, compared to its average volume of 1,898,498. The company has a market cap of $745.02 million, a PE ratio of -93.98, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. Canadian Solar Inc. has a 52-week low of $6.57 and a 52-week high of $21.05. The firm has a fifty day moving average of $8.98 and a 200 day moving average of $10.58. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.
Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The solar energy provider reported ($1.07) EPS for the quarter, beating analysts' consensus estimates of ($1.50) by $0.43. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. Canadian Solar's quarterly revenue was down 10.0% on a year-over-year basis. Research analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have issued reports on CSIQ. Mizuho boosted their target price on Canadian Solar from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Monday. Citigroup upgraded Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective for the company in a report on Thursday, April 17th. The Goldman Sachs Group boosted their target price on Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Friday. Roth Capital set a $11.00 price target on Canadian Solar and gave the company a "neutral" rating in a research report on Friday. Finally, StockNews.com raised Canadian Solar from a "sell" rating to a "hold" rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Solar presently has a consensus rating of "Hold" and an average target price of $16.77.
View Our Latest Stock Analysis on CSIQ
About Canadian Solar
(
Free Report)
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.
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