Canadian Solar Inc. (NASDAQ:CSIQ) Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,001,032 shares of the solar energy provider’s stock after selling 48,338 shares during the period. Invesco Ltd. owned 3.02% of Canadian Solar worth $22,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Canadian Solar by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,027,302 shares of the solar energy provider’s stock worth $22,544,000 after buying an additional 23,355 shares during the period. Shah Capital Management boosted its position in Canadian Solar by 825.6% during 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 during the period. IvyRock Asset Management HK Ltd bought a new position in shares of Canadian Solar in the fourth quarter worth $15,440,000. Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Canadian Solar during the fourth quarter valued at about $7,738,000. Finally, Robotti Robert lifted its holdings in Canadian Solar by 55.2% in the fourth quarter. Robotti Robert now owns 487,880 shares of the solar energy provider’s stock worth $5,425,000 after purchasing an additional 173,499 shares during the period. Institutional investors own 52.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CSIQ shares. The Goldman Sachs Group reduced their price target on shares of Canadian Solar from $11.00 to $9.00 and set a “sell” rating for the company in a research note on Wednesday, March 26th. Citigroup upgraded Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 price objective for the company in a report on Thursday. Wells Fargo & Company dropped their price target 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. Finally, StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.54.

Canadian Solar Trading Up 3.9 %

Shares of NASDAQ CSIQ opened at $7.46 on Friday. The firm has a market capitalization of $493.55 million, a PE ratio of -62.17, a PEG ratio of 0.74 and a beta of 1.33. Canadian Solar Inc. has a one year low of $6.57 and a one year high of $21.05. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $9.37 and a two-hundred day moving average price of $11.27.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm posted ($0.02) earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts predict that Canadian Solar Inc. will post -0.23 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.