Cerity Partners LLC Sells 182,436 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Cerity Partners LLC trimmed its holdings in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,297 shares of the solar energy provider's stock after selling 182,436 shares during the period. Cerity Partners LLC owned 0.37% of Canadian Solar worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Canadian Solar by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,027,302 shares of the solar energy provider's stock valued at $22,544,000 after acquiring an additional 23,355 shares during the period. Shah Capital Management increased its position in shares of 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 acquiring an additional 1,556,964 shares in the last quarter. IvyRock Asset Management HK Ltd acquired a new stake in Canadian Solar during the 4th quarter valued at $15,440,000. Greenwoods Asset Management Hong Kong Ltd. purchased a new position in Canadian Solar during the 4th quarter valued at about $7,738,000. Finally, Robotti Robert increased its stake in Canadian Solar by 55.2% in the 4th quarter. Robotti Robert now owns 487,880 shares of the solar energy provider's stock valued at $5,425,000 after buying an additional 173,499 shares during the period. Institutional investors and hedge funds own 52.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CSIQ shares. 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. 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 research note on Wednesday, January 8th. StockNews.com lowered Canadian Solar from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Finally, Citigroup upgraded shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price target for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $17.54.

Canadian Solar Stock Performance

CSIQ stock traded up $0.28 during mid-day trading on Friday, hitting $7.46. 1,241,125 shares of the company were exchanged, compared to its average volume of 1,876,540. The stock has a market capitalization of $493.55 million, a PE ratio of -62.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.33. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Canadian Solar Inc. has a 1-year low of $6.57 and a 1-year high of $21.05. The business has a 50 day simple moving average of $9.37 and a 200-day simple moving average of $11.27.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. The firm's quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Canadian Solar Profile

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.