Canadian Solar Inc. (NASDAQ:CSIQ) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,481 shares of the solar energy provider’s stock after purchasing an additional 928 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Canadian Solar were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Credit Suisse AG increased its position in shares of Canadian Solar by 4.7% during the second quarter. Credit Suisse AG now owns 8,391 shares of the solar energy provider’s stock worth $325,000 after purchasing an additional 375 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Canadian Solar by 3.4% during the second quarter. Envestnet Asset Management Inc. now owns 11,470 shares of the solar energy provider’s stock worth $444,000 after purchasing an additional 377 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Canadian Solar by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 17,999 shares of the solar energy provider’s stock worth $696,000 after purchasing an additional 528 shares in the last quarter. Toroso Investments LLC grew its holdings in shares of Canadian Solar by 24.2% during the third quarter. Toroso Investments LLC now owns 2,727 shares of the solar energy provider’s stock worth $102,000 after buying an additional 531 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Canadian Solar by 3.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,844 shares of the solar energy provider’s stock worth $390,000 after buying an additional 556 shares during the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CSIQ shares. StockNews.com raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. The Goldman Sachs Group lowered their price target on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Citigroup lowered their price target on Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Daiwa Capital Markets started coverage on Canadian Solar in a report on Monday, March 11th. They set a “neutral” rating and a $21.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Canadian Solar has a consensus rating of “Hold” and a consensus target price of $31.78.

Canadian Solar Price Performance

Shares of CSIQ opened at $15.27 on Wednesday. Canadian Solar Inc. has a twelve month low of $15.11 and a twelve month high of $45.29. The stock’s 50 day moving average is $19.99 and its two-hundred day moving average is $21.50. The firm has a market capitalization of $985.07 million, a PE ratio of 3.94, a P/E/G ratio of 0.25 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. Canadian Solar had a return on equity of 8.31% and a net margin of 3.60%. The company’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 EPS. Research analysts anticipate that Canadian Solar Inc. will post 2.57 earnings per share for the current year.

Canadian Solar Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.