Canadian Solar Inc. (NASDAQ:CSIQ) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 19.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the solar energy provider’s stock after selling 740 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Canadian Solar were worth $79,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Credit Suisse AG grew its stake in shares of Canadian Solar by 4.7% in the 2nd quarter. Credit Suisse AG now owns 8,391 shares of the solar energy provider’s stock valued at $325,000 after buying an additional 375 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Canadian Solar by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,470 shares of the solar energy provider’s stock valued at $444,000 after buying an additional 377 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Canadian Solar by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,999 shares of the solar energy provider’s stock valued at $696,000 after buying an additional 528 shares during the period. Toroso Investments LLC boosted its position in shares of Canadian Solar by 24.2% during the 3rd quarter. Toroso Investments LLC now owns 2,727 shares of the solar energy provider’s stock worth $102,000 after purchasing an additional 531 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Canadian Solar by 3.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,844 shares of the solar energy provider’s stock worth $390,000 after purchasing an additional 556 shares during the period. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Price Performance

Shares of CSIQ opened at $14.53 on Friday. Canadian Solar Inc. has a twelve month low of $14.11 and a twelve month high of $45.29. The firm’s fifty day simple moving average is $19.70 and its 200-day simple moving average is $21.41. The firm has a market capitalization of $937.33 million, a price-to-earnings ratio of 3.74, a PEG ratio of 0.23 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the business earned $1.11 EPS. Canadian Solar’s revenue for the quarter was down 13.7% compared to the same quarter last year. Equities analysts forecast that Canadian Solar Inc. will post 2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

CSIQ has been the subject of a number of research analyst reports. StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Citigroup lowered their price objective on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Daiwa Capital Markets initiated coverage on shares of Canadian Solar in a research report on Monday, March 11th. They set a “neutral” rating and a $21.00 price objective for the company. The Goldman Sachs Group lowered their price objective on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, Wells Fargo & Company decreased their price target on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.78.

About Canadian Solar

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