Canadian Solar Inc. (NASDAQ:CSIQ) Position Trimmed by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lowered its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,840 shares of the solar energy provider’s stock after selling 4,060 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Canadian Solar were worth $599,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CSIQ. Adirondack Trust Co. lifted its stake in Canadian Solar by 200.0% during the third quarter. Adirondack Trust Co. now owns 1,500 shares of the solar energy provider’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. USCF Advisers LLC boosted its stake in Canadian Solar by 87.5% in the 4th quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock worth $39,000 after purchasing an additional 700 shares during the period. Assetmark Inc. boosted its stake in Canadian Solar by 71.2% in the 3rd quarter. Assetmark Inc. now owns 2,387 shares of the solar energy provider’s stock worth $59,000 after purchasing an additional 993 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Canadian Solar during the 3rd quarter worth approximately $93,000. Finally, Campbell & CO Investment Adviser LLC raised its stake in Canadian Solar by 51.3% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,447 shares of the solar energy provider’s stock valued at $208,000 after purchasing an additional 2,865 shares during the period. Institutional investors own 52.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Daiwa Capital Markets initiated coverage on Canadian Solar in a research report on Monday, March 11th. They issued a “neutral” rating and a $21.00 target price for the company. The Goldman Sachs Group decreased their price objective on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Wells Fargo & Company dropped their target price on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 19th. Citigroup reduced their price target on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.78.

Canadian Solar Stock Up 4.5 %

Shares of Canadian Solar stock opened at $15.15 on Friday. The firm has a market cap of $977.33 million, a price-to-earnings ratio of 3.90, a P/E/G ratio of 0.24 and a beta of 1.26. The stock has a 50-day simple moving average of $18.71 and a 200-day simple moving average of $21.09. 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.

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

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.