Canadian Solar (CSIQ) Stake Increased by Millennium Management LLC

Millennium Management LLC grew its stake in shares of Canadian Solar (NASDAQ:CSIQ) by 4,641.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,141,385 shares of the solar energy provider’s stock after acquiring an additional 1,117,313 shares during the quarter. Millennium Management LLC owned about 1.97% of Canadian Solar worth $19,244,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CSIQ. Oppenheimer & Co. Inc. bought a new stake in shares of Canadian Solar during the 4th quarter valued at $223,000. HBK Investments L P bought a new stake in shares of Canadian Solar during the 4th quarter valued at $282,000. State Street Corp lifted its position in shares of Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares during the period. Quinn Opportunity Partners LLC bought a new stake in shares of Canadian Solar during the 4th quarter valued at $354,000. Finally, Two Sigma Advisers LP lifted its position in shares of Canadian Solar by 51.6% during the 4th quarter. Two Sigma Advisers LP now owns 22,902 shares of the solar energy provider’s stock valued at $386,000 after acquiring an additional 7,800 shares during the period. Hedge funds and other institutional investors own 39.15% of the company’s stock.

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Canadian Solar stock opened at $16.27 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. Canadian Solar has a 52 week low of $11.50 and a 52 week high of $19.09. The firm has a market cap of $943.71, a PE ratio of 16.60, a price-to-earnings-growth ratio of 0.45 and a beta of 2.60.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Monday, March 19th. The solar energy provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. Canadian Solar had a return on equity of 6.11% and a net margin of 2.94%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 65.9% compared to the same quarter last year. research analysts forecast that Canadian Solar will post 1.4 EPS for the current year.

A number of analysts have recently weighed in on CSIQ shares. ValuEngine upgraded Canadian Solar from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 19th. Axiom Securities cut Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a report on Friday, December 15th. JPMorgan Chase cut Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 price target for the company. in a report on Tuesday, December 12th. Goldman Sachs began coverage on Canadian Solar in a report on Tuesday, January 9th. They set a “neutral” rating and a $19.00 price target for the company. Finally, B. Riley set a $18.00 price target on Canadian Solar and gave the stock a “neutral” rating in a report on Thursday, March 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.92.

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Canadian Solar Company Profile

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

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