Deutsche Bank AG Purchases Shares of 27,695 Canadian Solar Inc. (NASDAQ:CSIQ)

Deutsche Bank AG acquired a new stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 27,695 shares of the solar energy provider's stock, valued at approximately $308,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased 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 purchasing an additional 3,347 shares in the last quarter. Sciencast Management LP bought a new stake in Canadian Solar during the 4th quarter valued at $113,000. Hsbc Holdings PLC bought a new stake in Canadian Solar during the 4th quarter valued at $177,000. Mariner LLC grew its holdings in shares of Canadian Solar by 100.0% during the fourth quarter. Mariner LLC now owns 20,000 shares of the solar energy provider's stock valued at $222,000 after buying an additional 10,000 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Canadian Solar by 89.9% during the 4th quarter. Northern Trust Corp now owns 26,319 shares of the solar energy provider's stock worth $293,000 after purchasing an additional 12,458 shares in the last quarter. Institutional investors own 52.36% of the company's stock.

Canadian Solar Price Performance

Shares of NASDAQ:CSIQ traded up $0.19 on Wednesday, hitting $11.12. The company's stock had a trading volume of 195,122 shares, compared to its average volume of 1,896,101. The company has a market capitalization of $744.59 million, a PE ratio of -92.65, a PEG ratio of 0.74 and a beta of 1.35. 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 company has a 50-day simple moving average of $9.08 and a 200 day simple moving average of $10.38. Canadian Solar Inc. has a 1 year low of $6.57 and a 1 year high of $19.55.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.50) by $0.43. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.11 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. Canadian Solar's revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. Sell-side analysts forecast that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CSIQ shares. Wells Fargo & Company lifted their target price on Canadian Solar from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Roth Capital set a $11.00 price target on shares of Canadian Solar and gave the stock a "neutral" rating in a research note on Friday, May 16th. The Goldman Sachs Group upped their price objective on Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Friday, May 16th. Mizuho decreased their price objective on Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Monday. Finally, Citigroup upgraded shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 target price for the company in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $16.58.

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.