Guinness Atkinson Asset Management Inc decreased its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,100 shares of the solar energy provider’s stock after selling 2,700 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Canadian Solar were worth $384,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Wedbush Securities Inc. bought a new position in Canadian Solar during the first quarter valued at $189,000. Raymond James Financial Services Advisors Inc. increased its position in Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the solar energy provider’s stock valued at $189,000 after buying an additional 3,350 shares during the period. Trellus Management Company LLC bought a new position in Canadian Solar during the first quarter valued at $245,000. Global X Management Co. LLC increased its position in Canadian Solar by 7.5% in the first quarter. Global X Management Co. LLC now owns 22,345 shares of the solar energy provider’s stock valued at $274,000 after buying an additional 1,562 shares during the period. Finally, Paloma Partners Management Co bought a new position in Canadian Solar during the first quarter valued at $303,000. 37.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Canadian Solar Inc. (CSIQ) traded up 1.29% during mid-day trading on Monday, hitting $15.76. 244,015 shares of the stock were exchanged. The stock has a market cap of $911.43 million, a PE ratio of 31.33 and a beta of 3.08. Canadian Solar Inc. has a one year low of $10.25 and a one year high of $16.38. The company has a 50-day moving average of $13.44 and a 200 day moving average of $13.07.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.04 by $0.14. Canadian Solar had a negative return on equity of 6.05% and a negative net margin of 2.12%. The company had revenue of $677 million for the quarter, compared to analyst estimates of $580.45 million. During the same period last year, the company posted $0.39 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities analysts predict that Canadian Solar Inc. will post $1.54 earnings per share for the current year.
Several research analysts recently weighed in on CSIQ shares. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $31.00 price target on shares of Canadian Solar in a research report on Thursday, April 20th. Axiom Securities started coverage on shares of Canadian Solar in a research report on Monday, April 17th. They set a “buy” rating and a $18.00 price target for the company. ValuEngine downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Roth Capital set a $12.00 price target on shares of Canadian Solar and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. Finally, J P Morgan Chase & Co reduced their price target on shares of Canadian Solar from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, March 22nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.20.
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.
Want to see what other hedge funds are holding CSIQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Solar Inc. (NASDAQ:CSIQ).
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285634/guinness-atkinson-asset-management-inc-has-384000-position-in-canadian-solar-inc-nasdaqcsiq.html
Receive News & Ratings for Canadian Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.