Engineers Gate Manager LP purchased a new stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,107 shares of the solar energy provider’s stock, valued at approximately $161,000.

Other large investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd raised its holdings in Canadian Solar by 100.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 98,968 shares of the solar energy provider’s stock valued at $1,212,000 after buying an additional 49,698 shares during the last quarter. Luminus Management LLC bought a new stake in Canadian Solar during the 2nd quarter valued at $6,581,000. KBC Group NV raised its holdings in Canadian Solar by 98.1% during the 2nd quarter. KBC Group NV now owns 117,745 shares of the solar energy provider’s stock valued at $1,441,000 after buying an additional 58,312 shares during the last quarter. First Trust Advisors LP raised its holdings in Canadian Solar by 9.3% during the 2nd quarter. First Trust Advisors LP now owns 60,417 shares of the solar energy provider’s stock valued at $740,000 after buying an additional 5,142 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Canadian Solar by 352.1% during the 2nd quarter. California Public Employees Retirement System now owns 292,403 shares of the solar energy provider’s stock valued at $3,579,000 after buying an additional 227,722 shares during the last quarter. Institutional investors own 34.14% of the company’s stock.

Shares of CSIQ opened at $16.18 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. Canadian Solar Inc. has a 1 year low of $11.37 and a 1 year high of $18.52. The company has a market cap of $928.05 million, a price-to-earnings ratio of 15.56, a P/E/G ratio of 0.36 and a beta of 1.83.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, November 15th. The solar energy provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.50. Canadian Solar had a net margin of 4.73% and a return on equity of 15.89%. The business had revenue of $767.97 million during the quarter, compared to analyst estimates of $806.13 million. Analysts forecast that Canadian Solar Inc. will post 1.73 earnings per share for the current fiscal year.

CSIQ has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Canadian Solar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 16th. Goldman Sachs Group set a $14.00 price objective on shares of Canadian Solar and gave the stock a “hold” rating in a report on Friday, November 16th. B. Riley decreased their price objective on shares of Canadian Solar from $18.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, August 23rd. BidaskClub upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 target price on the stock. in a research report on Monday, October 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Canadian Solar presently has a consensus rating of “Hold” and an average price target of $16.50.

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Canadian Solar Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

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