Quantitative Systematic Strategies LLC Buys 5,435 Shares of Canadian Solar Inc. (CSIQ)
Quantitative Systematic Strategies LLC increased its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 27.2% during the second quarter, Holdings Channel reports. The institutional investor owned 25,421 shares of the company’s stock after buying an additional 5,435 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Canadian Solar were worth $378,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Guinness Asset Management Ltd increased its stake in shares of Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock worth $183,000 after buying an additional 4,200 shares during the period. Tairen Capital Ltd acquired a new stake in shares of Canadian Solar during the second quarter worth about $191,000. Fox Run Management L.L.C. acquired a new stake in shares of Canadian Solar during the second quarter worth about $206,000. Palo Capital Inc. acquired a new stake in shares of Canadian Solar during the second quarter worth about $374,000. Finally, Guinness Atkinson Asset Management Inc increased its stake in shares of Canadian Solar by 47.3% in the second quarter. Guinness Atkinson Asset Management Inc now owns 27,100 shares of the company’s stock worth $410,000 after buying an additional 8,700 shares during the period. Hedge funds and other institutional investors own 34.50% of the company’s stock.
Shares of Canadian Solar Inc. (NASDAQ:CSIQ) traded down 0.66% during mid-day trading on Friday, reaching $14.99. 1,435,261 shares of the company’s stock traded hands. Canadian Solar Inc. has a 12-month low of $11.72 and a 12-month high of $29.83. The stock has a 50-day moving average price of $13.34 and a 200 day moving average price of $15.58. The firm has a market capitalization of $863.50 million, a price-to-earnings ratio of 5.68 and a beta of 2.57.
Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, August 18th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.31. Canadian Solar had a net margin of 4.45% and a return on equity of 19.71%. The firm had revenue of $805.90 million for the quarter, compared to the consensus estimate of $735.82 million. During the same period in the previous year, the firm posted $0.31 EPS. The business’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts anticipate that Canadian Solar Inc. will post $1.56 EPS for the current fiscal year.
A number of brokerages recently issued reports on CSIQ. Vetr downgraded Canadian Solar from a “hold” rating to a “sell” rating and set a $14.54 price objective on the stock. in a research report on Thursday. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. JMP Securities assumed coverage on Canadian Solar in a research report on Thursday, September 8th. They issued a “market perform” rating on the stock. Standpoint Research reissued a “buy” rating and issued a $18.00 target price on shares of Canadian Solar in a research note on Tuesday, September 6th. Finally, Cowen and Company assumed coverage on Canadian Solar in a research note on Thursday, August 25th. They issued an “outperform” rating and a $28.50 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.07.
About Canadian Solar
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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