SG Americas Securities LLC Buys 35,921 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

SG Americas Securities LLC lifted its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 109.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,730 shares of the solar energy provider’s stock after acquiring an additional 35,921 shares during the quarter. SG Americas Securities LLC owned approximately 0.10% of Canadian Solar worth $1,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CSIQ. Quarry LP purchased a new position in Canadian Solar during the 2nd quarter worth $31,000. Daiwa Securities Group Inc. increased its stake in shares of Canadian Solar by 72.1% during the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock valued at $146,000 after buying an additional 3,100 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Canadian Solar by 43.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after acquiring an additional 4,739 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Canadian Solar by 27.6% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock valued at $257,000 after acquiring an additional 3,768 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Canadian Solar by 8.0% in the second quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock valued at $276,000 after acquiring an additional 1,383 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Down 8.5 %

CSIQ stock opened at $13.78 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.82. The firm’s fifty day simple moving average is $14.06 and its 200-day simple moving average is $15.86. Canadian Solar Inc. has a 12 month low of $11.41 and a 12 month high of $26.85. The company has a market capitalization of $911.67 million, a P/E ratio of 4.78, a price-to-earnings-growth ratio of 4.71 and a beta of 1.31.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. The firm’s revenue for the quarter was down 30.8% compared to the same quarter last year. During the same period last year, the firm earned $2.39 EPS. As a group, equities research analysts forecast that Canadian Solar Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CSIQ shares. Roth Mkm reduced their price target on Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. The Goldman Sachs Group cut their price objective on shares of Canadian Solar from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of Canadian Solar from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Finally, Glj Research boosted their target price on shares of Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Canadian Solar presently has a consensus rating of “Hold” and an average price target of $23.33.

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.