Private Advisor Group LLC Buys Shares of 7,656 Canadian Solar Inc. (NASDAQ:CSIQ)

Private Advisor Group LLC purchased a new position in Canadian Solar Inc. (NASDAQ:CSIQ) during the fourth quarter, Holdings Channel.com reports. The fund purchased 7,656 shares of the solar energy provider’s stock, valued at approximately $201,000.

Other hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp lifted its position in shares of Canadian Solar by 27.1% during the 4th quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock valued at $103,661,000 after buying an additional 843,100 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Canadian Solar by 0.4% during the third quarter. Vanguard Group Inc. now owns 1,964,359 shares of the solar energy provider’s stock valued at $48,343,000 after purchasing an additional 8,317 shares during the last quarter. Creative Planning boosted its position in Canadian Solar by 103.3% during the third quarter. Creative Planning now owns 404,759 shares of the solar energy provider’s stock worth $9,961,000 after purchasing an additional 205,671 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Canadian Solar by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 12,481 shares of the solar energy provider’s stock worth $326,000 after purchasing an additional 928 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Canadian Solar in the fourth quarter valued at approximately $2,540,000. Institutional investors own 52.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSIQ shares. StockNews.com upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Roth Mkm reiterated a “buy” rating and issued a $25.00 price target on shares of Canadian Solar in a research report on Wednesday. Daiwa Capital Markets started coverage on Canadian Solar in a research note on Monday, March 11th. They set a “neutral” rating and a $21.00 price objective on the stock. Citigroup cut their target price on Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Finally, Wells Fargo & Company decreased their price target on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.00.

Canadian Solar Stock Up 3.1 %

Shares of NASDAQ CSIQ opened at $18.20 on Friday. The business has a 50-day moving average of $17.08 and a 200-day moving average of $20.46. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 6.32, a PEG ratio of 0.34 and a beta of 1.29. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. Canadian Solar Inc. has a 12 month low of $14.11 and a 12 month high of $45.29.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The business’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. Sell-side analysts expect that Canadian Solar Inc. will post 2.1 earnings per share for the current fiscal 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.