Hussman Strategic Advisors Inc. Sells 84,000 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Hussman Strategic Advisors Inc. trimmed its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 57.1% in the 4th quarter, Holdings Channel reports. The fund owned 63,000 shares of the solar energy provider’s stock after selling 84,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Canadian Solar were worth $701,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Shah Capital Management increased its stake in shares of Canadian Solar by 825.6% in the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock worth $19,410,000 after acquiring an additional 1,556,964 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Canadian Solar by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 85,545 shares of the solar energy provider’s stock worth $951,000 after acquiring an additional 16,815 shares in the last quarter. USCF Advisers LLC increased its stake in shares of Canadian Solar by 66.7% in the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Canadian Solar in the 4th quarter worth about $133,000. Finally, Sanctuary Advisors LLC increased its stake in shares of Canadian Solar by 37.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider’s stock worth $520,000 after acquiring an additional 8,404 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Stock Performance

Shares of CSIQ stock opened at $11.35 on Friday. The company has a 50 day moving average price of $11.12 and a 200-day moving average price of $12.64. Canadian Solar Inc. has a 52 week low of $9.56 and a 52 week high of $22.59. The firm has a market capitalization of $750.92 million, a PE ratio of -94.58, a P/E/G ratio of 0.71 and a beta of 1.26. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. As a group, equities research analysts expect that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CSIQ. Jefferies Financial Group began coverage on shares of Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 price objective on the stock. StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and cut their price objective for the company from $14.00 to $11.00 in a research report on Tuesday, December 17th. Finally, Mizuho began coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective on the stock. Five analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Canadian Solar has an average rating of “Hold” and an average target price of $18.31.

Canadian Solar Profile

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.