Two Sigma Advisers LP grew its stake in Canadian Solar (NASDAQ:CSIQ) by 51.6% during the 4th quarter, HoldingsChannel reports. The fund owned 22,902 shares of the solar energy provider’s stock after purchasing an additional 7,800 shares during the quarter. Two Sigma Advisers LP’s holdings in Canadian Solar were worth $386,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in Canadian Solar in the fourth quarter worth $223,000. Quinn Opportunity Partners LLC bought a new stake in Canadian Solar in the fourth quarter worth $354,000. State Street Corp boosted its holdings in Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after acquiring an additional 1,227 shares in the last quarter. Kassirer Asset Management Corp bought a new stake in Canadian Solar in the fourth quarter worth $506,000. Finally, Northern Trust Corp boosted its holdings in Canadian Solar by 11.7% in the second quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock worth $487,000 after acquiring an additional 3,198 shares in the last quarter. 39.15% of the stock is currently owned by institutional investors and hedge funds.
CSIQ stock opened at $15.89 on Friday. Canadian Solar has a 1-year low of $12.07 and a 1-year high of $19.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.91. The firm has a market capitalization of $930.95, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.44 and a beta of 2.67.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Monday, March 19th. The solar energy provider reported $1.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. Canadian Solar had a return on equity of 6.11% and a net margin of 2.94%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue was up 65.9% on a year-over-year basis. research analysts anticipate that Canadian Solar will post 1.4 EPS for the current fiscal year.
Several equities research analysts have commented on CSIQ shares. Goldman Sachs started coverage on Canadian Solar in a report on Tuesday, January 9th. They issued a “neutral” rating and a $19.00 target price on the stock. B. Riley set a $15.00 target price on Canadian Solar and gave the stock a “hold” rating in a report on Friday, January 12th. BidaskClub downgraded Canadian Solar from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. JPMorgan Chase raised Canadian Solar from an “underweight” rating to a “neutral” rating and set a $16.00 target price on the stock in a report on Thursday, February 1st. Finally, ValuEngine raised Canadian Solar from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.92.
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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.
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