Cipher Capital LP Buys 11,394 Shares of Canadian Solar Inc. (CSIQ)
Cipher Capital LP lifted its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,975 shares of the solar energy provider’s stock after purchasing an additional 11,394 shares during the period. Cipher Capital LP owned 0.19% of Canadian Solar worth $1,835,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after purchasing an additional 1,227 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Canadian Solar by 2.7% during the 2nd quarter. Van ECK Associates Corp now owns 84,436 shares of the solar energy provider’s stock worth $1,344,000 after purchasing an additional 2,217 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Canadian Solar by 2.1% during the 1st quarter. California Public Employees Retirement System now owns 143,600 shares of the solar energy provider’s stock worth $1,762,000 after purchasing an additional 2,900 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Canadian Solar by 11.7% during the 2nd quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock worth $487,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC boosted its holdings in shares of Canadian Solar by 9.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 41,031 shares of the solar energy provider’s stock worth $691,000 after purchasing an additional 3,550 shares during the last quarter. Institutional investors and hedge funds own 42.54% of the company’s stock.
Several research analysts have recently weighed in on CSIQ shares. B. Riley restated a “neutral” rating on shares of Canadian Solar in a report on Wednesday, November 1st. Barclays PLC cut Canadian Solar from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $12.00 to $14.00 in a report on Monday, August 21st. BidaskClub cut Canadian Solar from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Axiom Securities set a $26.00 price objective on Canadian Solar and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Canadian Solar presently has a consensus rating of “Hold” and an average price target of $20.01.
Shares of Canadian Solar Inc. (NASDAQ CSIQ) opened at $18.09 on Wednesday. Canadian Solar Inc. has a 12-month low of $10.36 and a 12-month high of $19.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95. The firm has a market capitalization of $1,051.60, a price-to-earnings ratio of 86.33, a PEG ratio of 0.72 and a beta of 3.12.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The business had revenue of $912.20 million for the quarter, compared to analyst estimates of $812.37 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The company’s revenue was up 38.8% on a year-over-year basis. research analysts forecast that Canadian Solar Inc. will post 0.97 EPS for the current fiscal year.
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.
Receive News & Ratings for Canadian Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.