Marshall Wace LLP Lowers Stake in Canadian Solar Inc. (NASDAQ:CSIQ)

Marshall Wace LLP lessened its holdings in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 56.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,656 shares of the solar energy provider's stock after selling 40,698 shares during the quarter. Marshall Wace LLP's holdings in Canadian Solar were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Canadian Solar by 494.4% in the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock worth $1,932,000 after purchasing an additional 95,924 shares during the period. Miracle Mile Advisors LLC purchased a new stake in Canadian Solar in the 4th quarter worth about $133,000. USCF Advisers LLC lifted its holdings in Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock valued at $28,000 after purchasing an additional 1,000 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Canadian Solar by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 85,545 shares of the solar energy provider's stock worth $951,000 after purchasing an additional 16,815 shares in the last quarter. Finally, Shah Capital Management lifted its stake in shares of Canadian Solar by 825.6% during the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider's stock valued at $19,410,000 after buying an additional 1,556,964 shares in the last quarter. Institutional investors own 52.36% of the company's stock.

Canadian Solar Stock Up 6.5 %

Shares of NASDAQ:CSIQ traded up $0.60 during midday trading on Friday, reaching $9.81. The company's stock had a trading volume of 1,043,438 shares, compared to its average volume of 1,984,067. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $649.02 million, a P/E ratio of -81.75, a PEG ratio of 0.74 and a beta of 1.35. The firm has a 50 day moving average of $8.91 and a 200-day moving average of $10.78. Canadian Solar Inc. has a 12-month low of $6.57 and a 12-month high of $21.05.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.26). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.57 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) EPS. On average, research analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CSIQ shares. Roth Capital lowered Canadian Solar from a "buy" rating to a "neutral" rating and set a $9.00 price target for the company. in a report on Friday, April 25th. Citigroup raised shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price target on the stock in a report on Thursday, April 17th. The Goldman Sachs Group cut their price objective on Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com lowered Canadian Solar from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $16.77.

About Canadian Solar

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.