Cresset Asset Management LLC Sells 23,507 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Cresset Asset Management LLC lowered its position in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 59.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,796 shares of the solar energy provider's stock after selling 23,507 shares during the quarter. Cresset Asset Management LLC's holdings in Canadian Solar were worth $176,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Bayesian Capital Management LP bought a new stake in shares of Canadian Solar in the 4th quarter worth approximately $331,000. BNP Paribas Financial Markets lifted its position in shares of Canadian Solar by 32.0% during the 4th quarter. BNP Paribas Financial Markets now owns 323,238 shares of the solar energy provider's stock worth $3,594,000 after buying an additional 78,306 shares during the period. Northern Trust Corp lifted its position in shares of 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 buying an additional 12,458 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Canadian Solar during the 4th quarter worth approximately $1,769,000. Finally, Hsbc Holdings PLC bought a new position in shares of Canadian Solar during the 4th quarter worth approximately $177,000. Institutional investors own 52.36% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup upgraded 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. Roth Capital set a $11.00 target price on Canadian Solar and gave the stock a "neutral" rating in a research report on Friday, May 16th. Mizuho raised their target price on Canadian Solar from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Monday. Wall Street Zen upgraded Canadian Solar from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company lifted their price objective on Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Canadian Solar has an average rating of "Hold" and an average target price of $16.77.

Canadian Solar Trading Down 6.5%

Shares of NASDAQ CSIQ traded down $0.68 during midday trading on Thursday, hitting $9.82. The stock had a trading volume of 1,542,689 shares, compared to its average volume of 1,902,752. The company's 50-day simple moving average is $9.04 and its 200 day simple moving average is $10.58. The firm has a market cap of $649.68 million, a P/E ratio of -81.83, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. Canadian Solar Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $21.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.

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

Canadian Solar Company 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.