Handelsbanken Fonder AB Decreases Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Handelsbanken Fonder AB reduced its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,800 shares of the solar energy provider’s stock after selling 1,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Canadian Solar were worth $198,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CSIQ. USCF Advisers LLC grew its stake in Canadian Solar by 66.7% during the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Canadian Solar by 20.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after acquiring an additional 1,500 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Canadian Solar during the fourth quarter worth about $133,000. Private Advisor Group LLC acquired a new position in shares of Canadian Solar during the third quarter valued at about $219,000. Finally, Prospera Financial Services Inc purchased a new position in shares of Canadian Solar in the 3rd quarter valued at approximately $333,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Mizuho assumed coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 target price on the stock. The Goldman Sachs Group lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $14.00 to $11.00 in a report on Tuesday, December 17th. Wells Fargo & Company cut their target price on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group initiated coverage on Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Canadian Solar presently has an average rating of “Hold” and an average target price of $18.31.

Canadian Solar Stock Performance

NASDAQ CSIQ opened at $9.83 on Tuesday. The firm has a market capitalization of $650.34 million, a P/E ratio of -81.92, a PEG ratio of 0.74 and a beta of 1.26. The stock has a 50-day simple moving average of $11.01 and a two-hundred day simple moving average of $12.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. Canadian Solar Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $21.35.

Canadian Solar (NASDAQ:CSIQ) last announced 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 company 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%. Canadian Solar’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. On average, equities analysts forecast that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

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.