SG Americas Securities LLC cut its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,024 shares of the solar energy provider’s stock after selling 12,707 shares during the period. SG Americas Securities LLC’s holdings in Canadian Solar were worth $827,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Canadian Solar in the second quarter valued at approximately $323,000. State Street Corp grew its holdings in shares of Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Canadian Solar by 11.7% in the second quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock valued at $487,000 after acquiring an additional 3,198 shares in the last quarter. Global X MANAGEMENT CO LLC grew its holdings in shares of Canadian Solar by 9.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 41,031 shares of the solar energy provider’s stock valued at $691,000 after acquiring an additional 3,550 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Canadian Solar by 83.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 49,323 shares of the solar energy provider’s stock valued at $786,000 after acquiring an additional 22,399 shares in the last quarter. 41.89% of the stock is owned by institutional investors.
Canadian Solar Inc. (CSIQ) opened at $15.73 on Friday. Canadian Solar Inc. has a 12 month low of $10.86 and a 12 month high of $19.09. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $912.39, a P/E ratio of 74.90, a P/E/G ratio of 0.33 and a beta of 2.71.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The business had revenue of $912.20 million for the quarter, compared to the consensus estimate of $812.37 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Canadian Solar’s revenue for the quarter was up 38.8% on a year-over-year basis. equities analysts expect that Canadian Solar Inc. will post 0.97 EPS for the current year.
Several equities analysts have recently issued reports on the company. Goldman Sachs Group assumed coverage on Canadian Solar in a report on Tuesday, January 9th. They issued a “neutral” rating and a $19.00 target price for the company. Zacks Investment Research raised Canadian Solar from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, November 13th. ValuEngine raised Canadian Solar from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. B. Riley set a $15.00 target price on Canadian Solar and gave the company a “hold” rating in a report on Monday, December 11th. Finally, BidaskClub raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $18.91.
COPYRIGHT VIOLATION NOTICE: “SG Americas Securities LLC Sells 12,707 Shares of Canadian Solar Inc. (CSIQ)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/18/sg-americas-securities-llc-sells-12707-shares-of-canadian-solar-inc-csiq.html.
Canadian Solar Profile
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
Want to see what other hedge funds are holding CSIQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Solar Inc. (NASDAQ:CSIQ).
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.