Guinness Asset Management Ltd held its stake in Canadian Solar Inc. (NASDAQ:CSIQ) during the second quarter, Holdings Channel reports. The fund owned 20,100 shares of the solar energy provider’s stock at the end of the second quarter. Guinness Asset Management Ltd’s holdings in Canadian Solar were worth $320,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CSIQ. Wedbush Securities Inc. acquired a new stake in Canadian Solar during the first quarter valued at $189,000. Raymond James Financial Services Advisors Inc. boosted its stake 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 last quarter. Trellus Management Company LLC acquired a new stake in Canadian Solar during the first quarter valued at $245,000. Global X Management Co. LLC boosted its stake 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 last quarter. Finally, Paloma Partners Management Co acquired a new stake in Canadian Solar during the first quarter valued at $303,000. Hedge funds and other institutional investors own 37.00% of the company’s stock.
Canadian Solar Inc. (CSIQ) traded up 1.54% on Monday, hitting $15.80. The stock had a trading volume of 266,502 shares. Canadian Solar Inc. has a 12-month low of $10.25 and a 12-month high of $16.38. The company’s 50 day moving average price is $13.44 and its 200-day moving average price is $13.07. The company has a market cap of $913.75 million, a price-to-earnings ratio of 31.41 and a beta of 3.08.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.04 by $0.14. The business had revenue of $677 million for the quarter, compared to the consensus estimate of $580.45 million. Canadian Solar had a negative net margin of 2.12% and a negative return on equity of 6.05%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Equities research analysts anticipate that Canadian Solar Inc. will post $1.54 EPS for the current year.
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A number of equities research analysts have weighed in on the company. FBR & Co reiterated a “mkt perform” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Canadian Solar in a research note on Wednesday, March 22nd. Cowen and Company boosted their price objective on Canadian Solar from $10.00 to $13.00 and gave the company a “market perform” rating in a research note on Wednesday, June 7th. J P Morgan Chase & Co reduced their price objective on Canadian Solar from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, March 22nd. Roth Capital set a $12.00 price objective on Canadian Solar and gave the company a “hold” rating in a research note on Wednesday, March 22nd. Finally, ValuEngine cut Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $16.20.
About Canadian Solar
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.
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