Vontobel Holding Ltd. Has $15.86 Million Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Vontobel Holding Ltd. cut its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 604,607 shares of the solar energy provider’s stock after selling 7,500 shares during the period. Vontobel Holding Ltd. owned about 0.94% of Canadian Solar worth $15,859,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Quarry LP raised its position in shares of Canadian Solar by 1,268.6% in the 1st quarter. Quarry LP now owns 958 shares of the solar energy provider’s stock worth $38,000 after acquiring an additional 888 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Canadian Solar by 115.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the solar energy provider’s stock worth $41,000 after acquiring an additional 589 shares in the last quarter. State of Tennessee Treasury Department bought a new position in shares of Canadian Solar in the 2nd quarter worth about $54,000. Adirondack Trust Co. raised its position in shares of Canadian Solar by 200.0% in the 3rd quarter. Adirondack Trust Co. now owns 1,500 shares of the solar energy provider’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Castleview Partners LLC bought a new position in shares of Canadian Solar in the 1st quarter worth about $64,000. 52.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CSIQ shares. The Goldman Sachs Group reduced their target price on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Citigroup reduced their target price on Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Daiwa Capital Markets started coverage on Canadian Solar in a research note on Monday, March 11th. They issued a “neutral” rating and a $21.00 target price for the company. StockNews.com upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company reduced their target price on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.78.

Canadian Solar Price Performance

Shares of NASDAQ CSIQ opened at $15.69 on Tuesday. Canadian Solar Inc. has a twelve month low of $15.22 and a twelve month high of $45.29. The stock’s 50 day moving average price is $20.11 and its 200-day moving average price is $21.57. The company has a market capitalization of $1.01 billion, a PE ratio of 4.04, a PEG ratio of 0.25 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.45.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.69 billion. Canadian Solar had a return on equity of 8.31% and a net margin of 3.60%. The company’s revenue was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 EPS. On average, equities analysts anticipate that Canadian Solar Inc. will post 2.57 EPS for the current year.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.