GF Fund Management CO. LTD. Takes Position in Canadian Solar Inc. $CSIQ

Key Points

• GF Fund Management acquired a new stake of 263,364 shares in Canadian Solar (about $6.26M), representing roughly 0.39% ownership according to the firm's latest 13F filing.
• Analyst sentiment is mixed with a consensus rating of "Hold" and an average target price of $18.36, while several firms (including Wells Fargo and Oppenheimer) recently cut price targets and opinions range from Strong Buy to Sell.
• Canadian Solar reported a quarterly loss (EPS -$1.66) and opened at $13.20 on the latest trading day; the company has a market cap near $895M, a negative P/E, and a 1‑year trading range of $6.96–$34.59.

GF Fund Management CO. LTD. acquired a new stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 263,364 shares of the solar energy provider's stock, valued at approximately $6,260,000. GF Fund Management CO. LTD. owned approximately 0.39% of Canadian Solar as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSIQ. Raymond James Financial Inc. purchased a new position in shares of Canadian Solar during the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd grew its position in Canadian Solar by 335.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider's stock valued at $42,000 after acquiring an additional 2,463 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Canadian Solar by 7.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider's stock valued at $63,000 after acquiring an additional 312 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Canadian Solar during the third quarter worth about $73,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Canadian Solar by 38.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider's stock worth $89,000 after buying an additional 2,254 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.

Analyst Ratings Changes

CSIQ has been the subject of several analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Canadian Solar in a research note on Friday, March 27th. Wells Fargo & Company decreased their price objective on Canadian Solar from $23.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Oppenheimer decreased their price objective on Canadian Solar from $38.00 to $19.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Wall Street Zen upgraded Canadian Solar from a "sell" rating to a "hold" rating in a research report on Sunday, April 12th. Finally, Freedom Capital upgraded Canadian Solar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $18.36.

Canadian Solar Stock Up 1.7%

Shares of Canadian Solar stock opened at $13.20 on Friday. The business's fifty day moving average price is $16.38 and its two-hundred day moving average price is $19.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.02 and a quick ratio of 0.83. The company has a market capitalization of $895.09 million, a P/E ratio of -5.28 and a beta of 1.37. Canadian Solar Inc. has a 1-year low of $6.96 and a 1-year high of $34.59.

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