Banque Cantonale Vaudoise Has $502,000 Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Banque Cantonale Vaudoise lifted its stake in Canadian Solar Inc. (NASDAQ:CSIQ – Get Rating) by 176.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,256 shares of the solar energy provider’s stock after acquiring an additional 10,379 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Canadian Solar were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Great West Life Assurance Co. Can boosted its holdings in Canadian Solar by 115.7% in the first quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the solar energy provider’s stock worth $41,000 after purchasing an additional 589 shares in the last quarter. Toroso Investments LLC boosted its holdings in Canadian Solar by 24.2% in the third quarter. Toroso Investments LLC now owns 2,727 shares of the solar energy provider’s stock worth $102,000 after purchasing an additional 531 shares in the last quarter. Credit Agricole S A bought a new stake in Canadian Solar in the third quarter worth $149,000. Daiwa Securities Group Inc. boosted its holdings in Canadian Solar by 12.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,400 shares of the solar energy provider’s stock worth $167,000 after purchasing an additional 600 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in Canadian Solar in the fourth quarter worth $202,000. 47.95% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Stock Down 1.1 %

NASDAQ CSIQ opened at $42.80 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.04. The firm has a 50-day simple moving average of $38.57 and a 200 day simple moving average of $37.85. Canadian Solar Inc. has a twelve month low of $26.86 and a twelve month high of $47.69. The stock has a market cap of $2.77 billion, a PE ratio of 9.53 and a beta of 1.46.

Canadian Solar (NASDAQ:CSIQ – Get Rating) last released its earnings results on Thursday, May 18th. The solar energy provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.71. Canadian Solar had a net margin of 3.97% and a return on equity of 14.02%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 36.1% on a year-over-year basis. On average, research analysts forecast that Canadian Solar Inc. will post 5.63 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSIQ. The Goldman Sachs Group upped their price objective on shares of Canadian Solar from $33.00 to $36.00 in a report on Monday, January 30th. Citigroup cut shares of Canadian Solar from a “buy” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $44.00 in a report on Thursday, March 9th. StockNews.com upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer upped their price target on shares of Canadian Solar from $60.00 to $68.00 in a report on Friday, May 19th. Finally, Wells Fargo & Company upped their price target on shares of Canadian Solar from $33.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Canadian Solar has an average rating of “Hold” and a consensus target price of $47.20.

About Canadian Solar

(Get Rating)

Canadian Solar, Inc engages in the manufacture of solar photovoltaic modules, provision of solar energy and battery storage solutions, and development of utility-scale solar and battery storage products. It operates through the CSI Solar and Global Energy segments. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.