Northwestern Mutual Wealth Management Co. Buys 222,451 Shares of Canadian Solar Inc. $CSIQ

Northwestern Mutual Wealth Management Co. increased its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 14,259.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 224,011 shares of the solar energy provider’s stock after purchasing an additional 222,451 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Canadian Solar were worth $5,325,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CSIQ. Goldman Sachs Group Inc. raised its holdings in shares of Canadian Solar by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock worth $4,748,000 after purchasing an additional 92,002 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Canadian Solar by 141.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock worth $100,000 after purchasing an additional 5,338 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Canadian Solar by 20.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock worth $9,539,000 after purchasing an additional 145,867 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Canadian Solar in the 2nd quarter worth approximately $33,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Canadian Solar in the 2nd quarter worth approximately $790,000. Institutional investors own 52.36% of the company’s stock.

Wall Street Analyst Weigh In

CSIQ has been the topic of a number of research reports. Mizuho lowered their price target on shares of Canadian Solar from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Oppenheimer lowered their price target on shares of Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Wall Street Zen raised shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a report on Friday, March 27th. Finally, Roth Mkm lowered their target price on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $18.36.

Canadian Solar Trading Up 4.3%

Shares of CSIQ stock opened at $18.88 on Friday. The company’s fifty day simple moving average is $15.24 and its two-hundred day simple moving average is $20.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.49 and a beta of 1.44.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Friday, May 15th. The solar energy provider reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.35. Canadian Solar had a negative net margin of 1.87% and a negative return on equity of 4.20%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $950.43 million. During the same quarter in the previous year, the firm posted ($1.07) EPS. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, analysts anticipate that Canadian Solar Inc. will post -1.16 earnings per share for the current year.

Insider Transactions at Canadian Solar

In other Canadian Solar news, Director Andrew Luen Cheung Wong sold 1,752 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $16.33, for a total transaction of $28,610.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.50% of the stock is owned by insiders.

About Canadian Solar

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.