Canadian Solar Inc. (NASDAQ:CSIQ) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP increased its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 37.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 125,423 shares of the solar energy provider’s stock after acquiring an additional 34,177 shares during the period. Quantbot Technologies LP’s holdings in Canadian Solar were worth $2,478,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. USCF Advisers LLC lifted its stake in shares of Canadian Solar by 87.5% during the fourth quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock valued at $39,000 after buying an additional 700 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Canadian Solar by 72.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock valued at $146,000 after purchasing an additional 3,100 shares during the period. Private Advisor Group LLC acquired a new position in Canadian Solar in the fourth quarter valued at $201,000. DekaBank Deutsche Girozentrale lifted its position in Canadian Solar by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 12,481 shares of the solar energy provider’s stock worth $326,000 after buying an additional 928 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in Canadian Solar during the fourth quarter worth about $359,000. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSIQ has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective 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. Roth Mkm reissued a “buy” rating and set a $25.00 price objective on shares of Canadian Solar in a research note on Wednesday, May 22nd. The Goldman Sachs Group cut their target price on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Citigroup lowered their price target on Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, StockNews.com upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.89.

Canadian Solar Stock Down 0.7 %

Canadian Solar stock traded down $0.13 during midday trading on Friday, hitting $17.28. 1,066,791 shares of the stock were exchanged, compared to its average volume of 1,551,466. Canadian Solar Inc. has a 1 year low of $13.80 and a 1 year high of $39.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.79. The firm has a market cap of $1.14 billion, a P/E ratio of 6.05, a P/E/G ratio of 0.31 and a beta of 1.29. The company has a 50 day moving average price of $16.91 and a two-hundred day moving average price of $19.28.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, May 9th. The solar energy provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm earned $1.19 EPS. Canadian Solar’s quarterly revenue was down 21.1% on a year-over-year basis. On average, sell-side analysts predict that Canadian Solar Inc. will post 2.07 earnings per share for the current fiscal year.

Canadian Solar Company Profile

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.