OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases New Position in Canadian Solar Inc. $CSIQ

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Canadian Solar Inc. (NASDAQ:CSIQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 47,962 shares of the solar energy provider’s stock, valued at approximately $1,140,000.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Canadian Solar in the 2nd quarter worth about $33,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Canadian Solar by 335.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock valued at $42,000 after acquiring an additional 2,463 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Canadian Solar in the 4th quarter valued at about $48,000. Quarry LP purchased a new position in Canadian Solar in the fourth quarter worth about $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Canadian Solar by 7.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock worth $63,000 after acquiring an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Oppenheimer decreased their price target on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Canadian Solar in a research report on Friday, March 27th. Wells Fargo & Company reduced their target price on shares of Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Freedom Capital lowered shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen raised shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $18.66.

Insider Buying and Selling

In other news, Director Andrew Luen Cheung Wong sold 1,752 shares of Canadian Solar 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leslie Li Hsien Chang sold 1,767 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $19.45, for a total value of $34,368.15. The disclosure for this sale is available in the SEC filing. 21.50% of the stock is owned by company insiders.

Canadian Solar Price Performance

NASDAQ CSIQ opened at $16.27 on Friday. The company has a market cap of $1.10 billion, a PE ratio of -6.46 and a beta of 1.50. The firm’s 50 day moving average price is $16.50 and its 200-day moving average price is $18.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 1.06. Canadian Solar Inc. has a 52-week low of $9.41 and a 52-week high of $34.59.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Friday, May 15th. The solar energy provider reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.35. Canadian Solar had a negative return on equity of 4.20% and a negative net margin of 1.87%.The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $950.43 million. During the same quarter in the previous year, the firm earned ($1.07) earnings per share. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. Sell-side analysts forecast that Canadian Solar Inc. will post -1.81 EPS for the current fiscal year.

Canadian Solar Company Profile

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.