abrdn plc Has $698,000 Position in Canadian Solar Inc. (NASDAQ:CSIQ)

abrdn plc lowered its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,854 shares of the solar energy provider’s stock after selling 1,594 shares during the quarter. abrdn plc’s holdings in Canadian Solar were worth $698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CSIQ. Adirondack Trust Co. boosted its holdings in Canadian Solar by 200.0% during the third quarter. Adirondack Trust Co. now owns 1,500 shares of the solar energy provider’s stock worth $37,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its stake in Canadian Solar by 71.2% during the 3rd quarter. Assetmark Inc. now owns 2,387 shares of the solar energy provider’s stock worth $59,000 after acquiring an additional 993 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Canadian Solar during the third quarter valued at approximately $93,000. Campbell & CO Investment Adviser LLC raised its holdings in Canadian Solar by 51.3% in the third quarter. Campbell & CO Investment Adviser LLC now owns 8,447 shares of the solar energy provider’s stock worth $208,000 after purchasing an additional 2,865 shares during the period. Finally, Clear Harbor Asset Management LLC increased its position in shares of Canadian Solar by 21.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 11,870 shares of the solar energy provider’s stock valued at $292,000 after buying an additional 2,100 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CSIQ. StockNews.com upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. The Goldman Sachs Group lowered their target price on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Citigroup cut 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. Wells Fargo & Company decreased their price objective on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, March 19th. Finally, Daiwa Capital Markets started coverage on Canadian Solar in a research note on Monday, March 11th. They issued a “neutral” rating and a $21.00 target price on the stock. One equities 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 MarketBeat.com, Canadian Solar has a consensus rating of “Hold” and an average target price of $31.78.

Canadian Solar Trading Up 8.5 %

Canadian Solar stock opened at $16.44 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.04. The stock has a 50-day simple moving average of $18.58 and a 200 day simple moving average of $21.03. The stock has a market capitalization of $1.06 billion, a P/E ratio of 4.24, a PEG ratio of 0.24 and a beta of 1.26. Canadian Solar Inc. has a 52 week low of $14.11 and a 52 week high of $45.29.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, March 14th. The solar energy provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 earnings per share. Analysts expect that Canadian Solar Inc. will post 2.58 earnings per share for the current year.

Canadian Solar Company 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.