Quantbot Technologies LP Raises Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Quantbot Technologies LP boosted its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 20.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 79,643 shares of the solar energy provider’s stock after acquiring an additional 13,446 shares during the period. Quantbot Technologies LP’s holdings in Canadian Solar were worth $886,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Shah Capital Management boosted its holdings in shares of Canadian Solar by 825.6% during the fourth quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock worth $19,410,000 after purchasing an additional 1,556,964 shares during the period. Greenwoods Asset Management Hong Kong Ltd. purchased a new stake in Canadian Solar in the 4th quarter worth approximately $7,738,000. State Street Corp grew its position in shares of Canadian Solar by 5.6% in the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after buying an additional 25,901 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Canadian Solar by 131.5% during the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after buying an additional 243,542 shares during the period. Finally, Waterfront Wealth Inc. raised its holdings in shares of Canadian Solar by 16.9% during the fourth quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider’s stock valued at $2,059,000 after acquiring an additional 26,778 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CSIQ. Wells Fargo & Company cut their price target on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Citigroup decreased their price target on shares of Canadian Solar from $12.00 to $11.00 and set a “sell” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price objective on Canadian Solar from $11.00 to $9.00 and set a “sell” rating on the stock in a research report on Wednesday. Finally, Mizuho started coverage on Canadian Solar in a research report on Friday, December 13th. They issued an “outperform” rating and a $20.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.84.

Canadian Solar Stock Performance

Shares of CSIQ opened at $9.94 on Thursday. 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 stock has a market cap of $657.62 million, a P/E ratio of -82.83, a P/E/G ratio of 0.74 and a beta of 1.34. The business’s 50 day moving average price is $10.33 and its 200-day moving average price is $12.08. Canadian Solar Inc. has a 52 week low of $9.19 and a 52 week high of $21.05.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the firm posted ($0.02) EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal year.

Canadian Solar 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.