Vontobel Holding Ltd. Has $301,000 Stake in Canadian Solar Inc. (NASDAQ:CSIQ)

Vontobel Holding Ltd. trimmed its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 73.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,087 shares of the solar energy provider’s stock after selling 73,464 shares during the period. Vontobel Holding Ltd.’s holdings in Canadian Solar were worth $301,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Shah Capital Management lifted its holdings in shares of 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 valued at $19,410,000 after purchasing an additional 1,556,964 shares in the last quarter. Barclays PLC lifted its holdings in shares of Canadian Solar by 494.4% in the third quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock valued at $1,932,000 after purchasing an additional 95,924 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Canadian Solar by 101.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,461 shares of the solar energy provider’s stock valued at $1,902,000 after purchasing an additional 57,246 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Canadian Solar in the third quarter valued at about $219,000. Finally, Cerity Partners LLC lifted its holdings in shares of Canadian Solar by 131.5% in the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after purchasing an additional 243,542 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Stock Performance

Shares of CSIQ opened at $11.35 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The stock has a 50-day moving average of $11.12 and a 200-day moving average of $12.64. The company has a market cap of $750.92 million, a PE ratio of -94.58, a P/E/G ratio of 0.71 and a beta of 1.26. Canadian Solar Inc. has a one year low of $9.56 and a one year high of $22.59.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. On average, equities research analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Mizuho started coverage on Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 target price on the stock. Wells Fargo & Company dropped their target price 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. Jefferies Financial Group started coverage on Canadian Solar in a report on Friday, November 22nd. They set a “buy” rating and a $14.15 target price on the stock. Finally, The Goldman Sachs Group lowered Canadian Solar from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $14.00 to $11.00 in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Canadian Solar presently has an average rating of “Hold” and an average target price of $18.31.

Canadian Solar 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.