Canadian Solar Inc. (NASDAQ:CSIQ) Shares Acquired by Barclays PLC

Barclays PLC increased its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 494.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,328 shares of the solar energy provider’s stock after acquiring an additional 95,924 shares during the period. Barclays PLC owned approximately 0.17% of Canadian Solar worth $1,932,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Canadian Solar by 5.6% in the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after purchasing an additional 25,901 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Canadian Solar by 1.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider’s stock worth $1,847,000 after buying an additional 1,522 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Canadian Solar in the third quarter valued at $1,109,000. Daiwa Securities Group Inc. increased its holdings in shares of 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 valued at $149,000 after buying an additional 1,500 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Canadian Solar by 131.5% during the 3rd quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after acquiring an additional 243,542 shares during the last quarter. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Trading Down 2.5 %

NASDAQ CSIQ opened at $11.52 on Friday. The company has a market capitalization of $762.15 million, a PE ratio of -96.00, a price-to-earnings-growth ratio of 8.89 and a beta of 1.29. Canadian Solar Inc. has a 1-year low of $10.60 and a 1-year high of $26.85. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm’s fifty day simple moving average is $12.53 and its 200-day simple moving average is $14.07.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, topping 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%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. As a group, sell-side analysts anticipate that Canadian Solar Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSIQ. Wells Fargo & Company decreased their target price on Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 5th. Jefferies Financial Group started coverage on Canadian Solar in a report on Friday, November 22nd. They set a “buy” rating and a $14.15 price objective on the stock. The Goldman Sachs Group cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $14.00 to $11.00 in a report on Tuesday, December 17th. Citigroup downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Finally, Mizuho initiated coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.58.

About Canadian Solar

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.