Oppenheimer & Co. Inc. Acquires 3,736 Shares of Canadian Solar Inc. (CSIQ)
Oppenheimer & Co. Inc. raised its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 20.0% during the second quarter, Holdings Channel reports. The institutional investor owned 22,407 shares of the company’s stock after buying an additional 3,736 shares during the period. Oppenheimer & Co. Inc.’s holdings in Canadian Solar were worth $339,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Pictet Asset Management Ltd. boosted its position in shares of Canadian Solar by 2.9% in the first quarter. Pictet Asset Management Ltd. now owns 1,074,754 shares of the company’s stock worth $24,472,000 after buying an additional 30,005 shares in the last quarter. Neumeier Poma Investment Counsel LLC boosted its position in shares of Canadian Solar by 10.5% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 1,016,190 shares of the company’s stock worth $19,592,000 after buying an additional 96,255 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Canadian Solar by 1.6% in the first quarter. BlackRock Group LTD now owns 954,424 shares of the company’s stock worth $18,402,000 after buying an additional 15,237 shares in the last quarter. Quentec Asset Management LLC boosted its position in shares of Canadian Solar by 40.2% in the first quarter. Quentec Asset Management LLC now owns 740,376 shares of the company’s stock worth $14,274,000 after buying an additional 212,400 shares in the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of Canadian Solar during the second quarter worth about $10,099,000. Institutional investors own 34.50% of the company’s stock.
Shares of Canadian Solar Inc. (NASDAQ:CSIQ) traded up 0.17% on Tuesday, hitting $12.04. 806,031 shares of the stock traded hands. Canadian Solar Inc. has a 1-year low of $11.72 and a 1-year high of $29.83. The stock has a market cap of $693.56 million, a PE ratio of 4.56 and a beta of 2.93. The stock has a 50 day moving average of $13.31 and a 200-day moving average of $16.33.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.31. The company earned $805.90 million during the quarter, compared to analysts’ expectations of $735.82 million. Canadian Solar had a net margin of 4.45% and a return on equity of 19.71%. Canadian Solar’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 earnings per share. On average, equities research analysts expect that Canadian Solar Inc. will post $1.60 EPS for the current year.
CSIQ has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Roth Capital set a $20.00 price objective on shares of Canadian Solar and gave the company a “buy” rating in a research note on Sunday, August 21st. Cowen and Company cut shares of Canadian Solar from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $20.00 to $13.00 in a research note on Friday, August 19th. Vetr upgraded shares of Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $14.50 target price for the company in a research report on Tuesday, September 13th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $29.00 target price on shares of Canadian Solar in a research report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Canadian Solar presently has a consensus rating of “Buy” and an average price target of $23.07.
Canadian Solar Company Profile
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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