96,823 Shares in Canadian Solar Inc. (NASDAQ:CSIQ) Purchased by Cerity Partners LLC

Cerity Partners LLC bought a new stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 96,823 shares of the solar energy provider's stock, valued at approximately $2,540,000. Cerity Partners LLC owned about 0.15% of Canadian Solar at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Canadian Solar by 137.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider's stock worth $92,569,000 after purchasing an additional 2,180,240 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Canadian Solar by 23.4% during the third quarter. Mackenzie Financial Corp now owns 3,108,915 shares of the solar energy provider's stock worth $69,795,000 after purchasing an additional 589,400 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Canadian Solar by 2,094.9% during the first quarter. Bank of America Corp DE now owns 471,110 shares of the solar energy provider's stock worth $18,755,000 after purchasing an additional 449,646 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Canadian Solar by 275.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 528,597 shares of the solar energy provider's stock worth $21,043,000 after purchasing an additional 387,866 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of Canadian Solar by 103.3% during the third quarter. Creative Planning now owns 404,759 shares of the solar energy provider's stock worth $9,961,000 after purchasing an additional 205,671 shares during the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Stock Performance

NASDAQ:CSIQ traded down $0.12 during mid-day trading on Friday, reaching $14.41. The stock had a trading volume of 1,901,846 shares, compared to its average volume of 1,414,713. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market capitalization of $929.59 million, a price-to-earnings ratio of 3.71, a PEG ratio of 0.23 and a beta of 1.26. Canadian Solar Inc. has a twelve month low of $14.11 and a twelve month high of $45.29. The business has a 50 day simple moving average of $19.53 and a 200 day simple moving average of $21.35.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The solar energy provider reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.11. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm earned $1.11 earnings per share. The firm's revenue was down 13.7% compared to the same quarter last year. On average, analysts expect that Canadian Solar Inc. will post 2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CSIQ. Wells Fargo & Company decreased their target price on shares of Canadian Solar from $28.00 to $23.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 19th. Daiwa Capital Markets began coverage on shares of Canadian Solar in a research note on Monday, March 11th. They set a "neutral" rating and a $21.00 target price for the company. StockNews.com upgraded shares of Canadian Solar from a "sell" rating to a "hold" rating in a research note on Thursday, April 11th. The Goldman Sachs Group decreased their target price on shares of Canadian Solar from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, March 15th. Finally, Citigroup decreased their target price on shares of Canadian Solar from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $31.78.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.