Prospera Financial Services Inc Makes New Investment in Canadian Solar Inc. (NASDAQ:CSIQ)

Prospera Financial Services Inc acquired a new stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,877 shares of the solar energy provider’s stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. KBC Group NV increased its stake in shares of Canadian Solar by 36.2% during the third quarter. KBC Group NV now owns 142,402 shares of the solar energy provider’s stock valued at $2,387,000 after buying an additional 37,850 shares during the period. Summit Place Financial Advisors LLC increased its position in Canadian Solar by 60.0% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 59,223 shares of the solar energy provider’s stock valued at $993,000 after purchasing an additional 22,200 shares during the period. Private Advisor Group LLC purchased a new position in Canadian Solar during the 3rd quarter valued at $219,000. Green Alpha Advisors LLC raised its holdings in Canadian Solar by 8.8% in the 3rd quarter. Green Alpha Advisors LLC now owns 40,390 shares of the solar energy provider’s stock worth $677,000 after purchasing an additional 3,282 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Canadian Solar by 69.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,700 shares of the solar energy provider’s stock worth $330,000 after purchasing an additional 8,100 shares during the period. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Up 5.4 %

NASDAQ:CSIQ opened at $11.91 on Monday. The firm has a 50-day simple moving average of $13.74 and a two-hundred day simple moving average of $14.97. The firm has a market cap of $787.95 million, a P/E ratio of 23.35, a P/E/G ratio of 3.69 and a beta of 1.34. Canadian Solar Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $26.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.04.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. The firm’s quarterly revenue was down 30.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.39 EPS. Analysts predict that Canadian Solar Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CSIQ shares. Citigroup cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Glj Research increased their target price on Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group decreased their price objective on Canadian Solar from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, August 26th. Finally, Jefferies Financial Group initiated coverage on shares of Canadian Solar in a report on Friday. They set a “buy” rating and a $14.15 target price on the stock. Four analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Canadian Solar currently has a consensus rating of “Hold” and a consensus price target of $19.94.

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.