Invesco Ltd. Sells 48,338 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Invesco Ltd. reduced its holdings in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,001,032 shares of the solar energy provider's stock after selling 48,338 shares during the quarter. Invesco Ltd. owned about 3.02% of Canadian Solar worth $22,251,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. USCF Advisers LLC lifted 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 worth $28,000 after purchasing an additional 1,000 shares during the period. Wells Fargo & Company MN raised its position in Canadian Solar by 184.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after purchasing an additional 3,347 shares during the last quarter. Sanctuary Advisors LLC increased its position in Canadian Solar by 37.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider's stock valued at $520,000 after acquiring an additional 8,404 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Canadian Solar by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,193 shares of the solar energy provider's stock valued at $466,000 after purchasing an additional 8,505 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of Canadian Solar in the 4th quarter valued at about $113,000. Institutional investors and hedge funds own 52.36% of the company's stock.

Canadian Solar Stock Performance

NASDAQ CSIQ traded up $0.72 during trading on Thursday, reaching $8.58. 854,008 shares of the company's stock were exchanged, compared to its average volume of 1,871,300. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The stock has a market capitalization of $567.64 million, a P/E ratio of -70.79, a PEG ratio of 0.74 and a beta of 1.33. Canadian Solar Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $21.05. The business has a 50 day moving average price of $9.22 and a 200-day moving average price of $11.11.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.26). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.57 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Sell-side analysts forecast that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

CSIQ has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. StockNews.com downgraded Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Citigroup upgraded shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 target price on the stock in a report on Thursday, April 17th. Finally, The Goldman Sachs Group lowered their target price on Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.54.

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.