MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 718,641 shares of the solar energy provider's stock after selling 40,897 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.09% of Canadian Solar worth $8,065,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position 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 during the period. Sciencast Management LP purchased a new position in Canadian Solar in the fourth quarter valued at about $113,000. Miracle Mile Advisors LLC purchased a new stake in shares of Canadian Solar during the fourth quarter worth about $133,000. Hsbc Holdings PLC purchased a new stake in shares of Canadian Solar during the fourth quarter worth about $177,000. Finally, Mariner LLC increased its position 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 worth $222,000 after acquiring an additional 10,000 shares during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.
Canadian Solar Stock Down 0.2%
Canadian Solar stock traded down $0.02 during midday trading on Friday, hitting $9.80. The stock had a trading volume of 933,917 shares, compared to its average volume of 1,888,708. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a market cap of $648.36 million, a P/E ratio of -81.67, a P/E/G ratio of 0.74 and a beta of 1.35. Canadian Solar Inc. has a 12 month low of $6.57 and a 12 month high of $21.05. The business has a fifty day moving average price of $9.03 and a 200 day moving average price of $10.49.
Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share for the quarter, beating the consensus estimate of ($1.50) by $0.43. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.11 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. Canadian Solar's quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. Research analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current year.
Wall Street Analyst Weigh In
CSIQ has been the topic of a number of analyst reports. Mizuho lifted 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. 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. The Goldman Sachs Group lifted their target price on Canadian Solar from $8.00 to $9.00 and gave the stock a "sell" rating in a research report on Friday, May 16th. Citigroup raised Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 target price on the stock in a research report on Thursday, April 17th. Finally, 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 report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.77.
Read Our Latest Research Report on Canadian Solar
Canadian Solar Company Profile
(
Free Report)
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.
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