Canadian Solar Inc. (NASDAQ:CSIQ) is USCF Advisers LLC’s 2nd Largest Position

USCF Advisers LLC increased its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 87.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,500 shares of the solar energy provider’s stock after purchasing an additional 700 shares during the quarter. Canadian Solar accounts for 9.8% of USCF Advisers LLC’s portfolio, making the stock its 2nd largest position. USCF Advisers LLC’s holdings in Canadian Solar were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in shares of Canadian Solar by 27.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock worth $103,661,000 after buying an additional 843,100 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Canadian Solar by 137.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider’s stock worth $92,569,000 after acquiring an additional 2,180,240 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Canadian Solar by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,964,359 shares of the solar energy provider’s stock valued at $48,343,000 after acquiring an additional 8,317 shares during the period. Schroder Investment Management Group raised its holdings in Canadian Solar by 13.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,361,724 shares of the solar energy provider’s stock worth $33,512,000 after purchasing an additional 161,224 shares during the period. Finally, Guinness Asset Management LTD raised its stake in shares of Canadian Solar by 5.7% in the third quarter. Guinness Asset Management LTD now owns 1,115,502 shares of the solar energy provider’s stock worth $27,454,000 after buying an additional 60,392 shares during the period. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Price Performance

Shares of Canadian Solar stock traded up $0.78 during trading on Friday, reaching $15.28. 692,443 shares of the stock traded hands, compared to its average volume of 1,421,900. Canadian Solar Inc. has a 52-week low of $14.11 and a 52-week high of $45.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.84. The business has a fifty day simple moving average of $18.87 and a two-hundred day simple moving average of $21.15. The company has a market capitalization of $985.71 million, a price-to-earnings ratio of 3.74, a P/E/G ratio of 0.23 and a beta of 1.26.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.11. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Canadian Solar had a return on equity of 8.31% and a net margin of 3.60%. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 EPS. Sell-side analysts expect that Canadian Solar Inc. will post 2.58 EPS for the current year.

Analyst Upgrades and Downgrades

CSIQ has been the subject of several analyst reports. StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Wells Fargo & Company reduced their price objective on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 19th. Citigroup lowered their target price on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. The Goldman Sachs Group cut their price target on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Finally, Daiwa Capital Markets started coverage on Canadian Solar in a report on Monday, March 11th. They set a “neutral” rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.78.

Canadian Solar Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.