DnB Asset Management AS Sells 173,352 Shares of Canadian Solar Inc. (CSIQ)
DnB Asset Management AS cut its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 6.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,410,163 shares of the solar energy provider’s stock after selling 173,352 shares during the quarter. DnB Asset Management AS’s holdings in Canadian Solar were worth $40,635,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. Pacad Investment Ltd. bought a new stake in Canadian Solar in the 2nd quarter valued at about $115,000. Legal & General Group Plc lifted its position in Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after purchasing an additional 4,100 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Canadian Solar in the 2nd quarter valued at about $323,000. State Street Corp lifted its position in Canadian Solar by 6.0% in the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Canadian Solar during the 2nd quarter worth about $370,000. Hedge funds and other institutional investors own 42.08% of the company’s stock.
A number of research firms have commented on CSIQ. Goldman Sachs Group began coverage on shares of Canadian Solar in a research report on Tuesday. They set a “neutral” rating and a $19.00 price target on the stock. B. Riley restated a “neutral” rating on shares of Canadian Solar in a research report on Wednesday, November 1st. Axiom Securities set a $26.00 price target on shares of Canadian Solar and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, November 13th. Finally, Roth Capital upgraded shares of Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.82.
Canadian Solar Inc. (NASDAQ:CSIQ) opened at $16.95 on Wednesday. The stock has a market cap of $980.22, a P/E ratio of 41.34, a PEG ratio of 0.36 and a beta of 3.10. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. Canadian Solar Inc. has a 52 week low of $10.86 and a 52 week high of $19.09.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $912.20 million for the quarter, compared to analysts’ expectations of $812.37 million. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. The business’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. research analysts expect that Canadian Solar Inc. will post 0.97 earnings per share for the current fiscal year.
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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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