SG Americas Securities LLC Trims Stake in Canadian Solar Inc. $CSIQ

Key Points

• SG Americas Securities cut its stake in Canadian Solar by 58.8%, selling 138,830 shares and retaining 97,459 shares worth about $2.32 million (≈0.15% of the company) at quarter end.
• Canadian Solar posted a quarterly loss of $1.66 EPS, showed negative ROE and net margin, and its stock trades at $13.36 with a 12‑month range of $6.57–$34.59 and a market cap near $895 million.
• Analyst sentiment is mixed with a consensus "Hold" and an average price target of $17.66, while several brokerages recently cut price targets and ratings.

SG Americas Securities LLC decreased its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 58.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,459 shares of the solar energy provider's stock after selling 138,830 shares during the period. SG Americas Securities LLC owned approximately 0.15% of Canadian Solar worth $2,317,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in 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 valued at $4,748,000 after buying an additional 92,002 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Canadian Solar by 141.9% during the 2nd 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 acquiring an additional 5,338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Canadian Solar by 20.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider's stock valued at $9,539,000 after purchasing an additional 145,867 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Canadian Solar during the second quarter valued at approximately $33,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Canadian Solar in the second quarter worth approximately $790,000. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Stock Performance

Shares of CSIQ stock opened at $13.36 on Friday. Canadian Solar Inc. has a 12 month low of $6.57 and a 12 month high of $34.59. The stock has a market cap of $894.72 million, a PE ratio of -5.34 and a beta of 1.37. The company has a current ratio of 1.02, a quick ratio of 0.83 and a debt-to-equity ratio of 0.97. The company's fifty day moving average price is $17.89 and its 200-day moving average price is $19.85.

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

Analyst Ratings Changes

Several brokerages have weighed in on CSIQ. Wall Street Zen cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Saturday. Roth Mkm lowered their price target 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. Oppenheimer cut their price objective on Canadian Solar from $38.00 to $19.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. Weiss Ratings restated a "sell (d+)" rating on shares of Canadian Solar in a report on Friday, March 27th. Finally, Mizuho reduced their price objective on shares of Canadian Solar from $19.00 to $15.00 and set a "neutral" rating on the stock in a research report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.66.

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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