Mariner LLC Grows Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Mariner LLC lifted its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 100.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the solar energy provider’s stock after purchasing an additional 10,000 shares during the quarter. Mariner LLC’s holdings in Canadian Solar were worth $222,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CSIQ. Shah Capital Management boosted its stake in Canadian Solar by 825.6% in the fourth quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock worth $19,410,000 after buying an additional 1,556,964 shares in the last quarter. IvyRock Asset Management HK Ltd purchased a new stake in shares of Canadian Solar in the 4th quarter valued at $15,440,000. Greenwoods Asset Management Hong Kong Ltd. bought a new position in shares of Canadian Solar during the 4th quarter valued at $7,738,000. Robotti Robert grew its holdings in shares of Canadian Solar by 55.2% during the 4th quarter. Robotti Robert now owns 487,880 shares of the solar energy provider’s stock valued at $5,425,000 after purchasing an additional 173,499 shares during the last quarter. Finally, Barclays PLC raised its position in Canadian Solar by 494.4% in the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock worth $1,932,000 after purchasing an additional 95,924 shares during the period. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Price Performance

Shares of CSIQ stock opened at $8.98 on Wednesday. The business’s fifty day moving average is $8.95 and its 200 day moving average is $10.81. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65. The stock has a market cap of $593.78 million, a price-to-earnings ratio of -74.79, a PEG ratio of 0.74 and a beta of 1.35. Canadian Solar Inc. has a twelve month low of $6.57 and a twelve month high of $21.05.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.26). Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. Research analysts expect that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CSIQ has been the subject of a number of recent research reports. Roth Capital lowered Canadian Solar from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Friday, April 25th. StockNews.com lowered shares of Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Wells Fargo & Company reduced their price target on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Citigroup upgraded Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 price objective for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group reduced their target price on Canadian Solar from $11.00 to $9.00 and set a “sell” rating on the stock in a research note on Wednesday, March 26th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Canadian Solar currently has a consensus rating of “Hold” and a consensus target price of $16.77.

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.