2,009,769 Shares in Canadian Solar Inc. $CSIQ Bought by Polunin Capital Partners Ltd

Key Points

• Polunin Capital Partners Ltd bought a new stake of 2,009,769 shares in Canadian Solar (CSIQ) in Q4, valued at about $43.69 million, making up 7.1% of its portfolio and roughly 3.0% ownership of the company.
• Analyst sentiment is mixed — MarketBeat shows a consensus "Hold" with a $17.66 target and several firms cutting targets to ~$15 — while Canadian Solar reports negative EPS (‑$1.66 last quarter), a negative net margin, and a market cap near $895 million, suggesting continued caution.

Polunin Capital Partners Ltd acquired a new stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,009,769 shares of the solar energy provider's stock, valued at approximately $43,692,000. Canadian Solar comprises 7.1% of Polunin Capital Partners Ltd's portfolio, making the stock its 6th biggest holding. Polunin Capital Partners Ltd owned 3.00% of Canadian Solar at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CSIQ. Invesco Ltd. grew its stake in shares of Canadian Solar by 19.3% during the 3rd quarter. Invesco Ltd. now owns 2,200,622 shares of the solar energy provider's stock valued at $28,696,000 after purchasing an additional 356,625 shares during the period. Legal & General Group Plc lifted its stake in shares of Canadian Solar by 13.0% in the 3rd quarter. Legal & General Group Plc now owns 2,051,228 shares of the solar energy provider's stock worth $26,741,000 after purchasing an additional 236,115 shares during the period. Two Sigma Investments LP purchased a new position in shares of Canadian Solar in the third quarter worth approximately $11,544,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Canadian Solar by 20.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider's stock worth $9,539,000 after buying an additional 145,867 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Canadian Solar by 18.7% during the third quarter. BNP Paribas Financial Markets now owns 661,186 shares of the solar energy provider's stock valued at $8,622,000 after buying an additional 104,364 shares during the period. 52.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CSIQ. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Canadian Solar in a report on Friday, March 27th. Freedom Capital raised shares of Canadian Solar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 24th. Wall Street Zen downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Saturday. Roth Mkm decreased their target price on Canadian Solar from $30.00 to $15.00 and set a "neutral" rating on the stock in a report on Monday, March 23rd. Finally, Mizuho lowered their target price on Canadian Solar from $19.00 to $15.00 and set a "neutral" rating on the stock in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.66.

Canadian Solar Stock Performance

Canadian Solar stock opened at $13.36 on Friday. Canadian Solar Inc. has a 12-month low of $6.57 and a 12-month high of $34.59. The firm has a market capitalization of $894.72 million, a price-to-earnings ratio of -5.34 and a beta of 1.37. The firm has a 50 day moving average of $17.89 and a 200 day moving average of $19.80. The company has a current ratio of 1.02, a quick ratio of 0.83 and a debt-to-equity ratio of 0.97.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share for the quarter. The firm had revenue of $1.22 billion for the quarter. Canadian Solar had a negative net margin of 1.86% and a negative return on equity of 4.95%. As a group, research analysts predict that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Canadian Solar Profile

Canadian Solar Inc NASDAQ: CSIQ is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world's largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.

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