Canadian Solar Inc. (NASDAQ:CSIQ) Stock Position Lowered by Green Alpha Advisors LLC

Green Alpha Advisors LLC trimmed its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 33.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,888 shares of the solar energy provider’s stock after selling 13,502 shares during the period. Green Alpha Advisors LLC’s holdings in Canadian Solar were worth $299,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CSIQ. Quarry LP purchased a new position in Canadian Solar during the second quarter valued at approximately $31,000. Daiwa Securities Group Inc. boosted its stake in shares of Canadian Solar by 20.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock valued at $149,000 after buying an additional 1,500 shares during the period. Private Advisor Group LLC acquired a new position in shares of Canadian Solar in the third quarter worth $219,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Canadian Solar by 43.1% during the second 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. Finally, American Century Companies Inc. boosted its position in Canadian Solar by 8.0% during the second quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock valued at $276,000 after purchasing an additional 1,383 shares during the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Stock Performance

Shares of NASDAQ CSIQ opened at $11.91 on Tuesday. Canadian Solar Inc. has a 12 month low of $10.60 and a 12 month high of $25.43. The company has a market cap of $787.95 million, a P/E ratio of -99.25, a P/E/G ratio of 8.89 and a beta of 1.27. The business’s 50 day moving average is $12.13 and its two-hundred day moving average is $13.65. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $0.32 EPS. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, equities analysts expect that Canadian Solar Inc. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

CSIQ has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and cut their price target for the stock from $14.00 to $11.00 in a research note on Tuesday, December 17th. Jefferies Financial Group initiated coverage on shares of Canadian Solar in a research note on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price for the company. Mizuho began coverage on shares of Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup cut Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.31.

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.