Hussman Strategic Advisors Inc. Buys Shares of 126,000 Canadian Solar Inc. $CSIQ

Key Points

• Hussman Strategic Advisors bought 126,000 shares of Canadian Solar in Q4 (about $2.995M), making CSIQ its 22nd-largest holding; Hussman owned roughly 0.19% of Canadian Solar at quarter-end and the position represents about 0.7% of Hussman’s portfolio.
• Other institutions also increased exposure—Goldman Sachs boosted its stake to 548,853 shares and MIRAE ASSET holds 842,703 shares—and overall institutional and hedge fund ownership stands at about 52.36%.
• Canadian Solar has a market cap of ~$1.13B, negative EPS and a -6.68 P/E, a 12‑month range of $8.84–$34.59, and analysts have an average rating of "Hold" with an average price target of $18.36 after several recent downgrades and price-target cuts.

Hussman Strategic Advisors Inc. acquired a new position in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 126,000 shares of the solar energy provider's stock, valued at approximately $2,995,000. Canadian Solar accounts for about 0.7% of Hussman Strategic Advisors Inc.'s holdings, making the stock its 22nd largest holding. Hussman Strategic Advisors Inc. owned about 0.19% of Canadian Solar at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CSIQ. Goldman Sachs Group Inc. boosted its position in shares of Canadian Solar by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider's stock worth $4,748,000 after buying an additional 92,002 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Canadian Solar by 141.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider's stock worth $100,000 after buying an additional 5,338 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Canadian Solar by 20.9% during 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 period. Raymond James Financial Inc. acquired a new position in shares of Canadian Solar during the second quarter worth about $33,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Canadian Solar during the second quarter worth about $790,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Price Performance

NASDAQ:CSIQ opened at $16.71 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.02 and a debt-to-equity ratio of 0.97. The stock's 50 day moving average price is $15.29 and its two-hundred day moving average price is $19.82. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.68 and a beta of 1.44. Canadian Solar Inc. has a 12-month low of $8.84 and a 12-month high of $34.59.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share (EPS) for the quarter. The business had revenue of $1.22 billion during the quarter. Canadian Solar had a negative net margin of 1.86% and a negative return on equity of 4.95%. On average, analysts anticipate that Canadian Solar Inc. will post -1.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSIQ. Wells Fargo & Company reduced their price objective on Canadian Solar from $23.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Freedom Capital raised Canadian Solar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 24th. Roth Mkm reduced their price objective on Canadian Solar from $30.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Canadian Solar in a research report on Friday, March 27th. Finally, Oppenheimer reduced their price objective on Canadian Solar from $38.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Canadian Solar has an average rating of "Hold" and an average price target of $18.36.

About Canadian Solar

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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