Quantbot Technologies LP Acquires 34,177 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Quantbot Technologies LP lifted its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 37.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,423 shares of the solar energy provider’s stock after buying an additional 34,177 shares during the quarter. Quantbot Technologies LP owned about 0.19% of Canadian Solar worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CSIQ. Vanguard Group Inc. boosted its stake in Canadian Solar by 0.4% in the third quarter. Vanguard Group Inc. now owns 1,964,359 shares of the solar energy provider’s stock worth $48,343,000 after purchasing an additional 8,317 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Canadian Solar by 11.3% in the fourth quarter. DNB Asset Management AS now owns 726,073 shares of the solar energy provider’s stock worth $19,045,000 after purchasing an additional 73,493 shares in the last quarter. Green Alpha Advisors LLC lifted its position in Canadian Solar by 16.1% during the 4th quarter. Green Alpha Advisors LLC now owns 40,370 shares of the solar energy provider’s stock worth $1,059,000 after buying an additional 5,593 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Canadian Solar by 59.0% during the 4th quarter. SG Americas Securities LLC now owns 35,216 shares of the solar energy provider’s stock worth $924,000 after buying an additional 13,070 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its stake in Canadian Solar by 33.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 15,870 shares of the solar energy provider’s stock valued at $416,000 after purchasing an additional 4,000 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSIQ has been the topic of several research analyst reports. UBS Group dropped their price objective on Canadian Solar from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Citigroup dropped their price objective on Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Roth Mkm reaffirmed a “buy” rating and issued a $25.00 target price on shares of Canadian Solar in a report on Wednesday, May 22nd. The Goldman Sachs Group decreased their price target 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. Finally, StockNews.com upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. One equities 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 company’s stock. According to MarketBeat.com, Canadian Solar presently has a consensus rating of “Hold” and a consensus target price of $28.89.

Canadian Solar Trading Down 0.7 %

CSIQ stock traded down $0.13 during midday trading on Friday, hitting $17.28. The company had a trading volume of 1,066,791 shares, compared to its average volume of 1,551,466. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 0.31 and a beta of 1.29. Canadian Solar Inc. has a 52 week low of $13.80 and a 52 week high of $39.07. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $16.91 and its 200 day moving average price is $19.28.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.20. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was down 21.1% compared to the same quarter last year. As a group, equities research analysts expect that Canadian Solar Inc. will post 2.07 earnings per share for the current fiscal year.

About Canadian Solar

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