Canadian Solar Inc. (NASDAQ:CSIQ) Shares Sold by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc cut its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,183 shares of the solar energy provider’s stock after selling 2,212 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Canadian Solar were worth $358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in Canadian Solar by 25.4% in the 2nd quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock valued at $75,456,000 after purchasing an additional 1,037,800 shares in the last quarter. State Street Corp raised its holdings in Canadian Solar by 5.6% in the third quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock valued at $8,159,000 after acquiring an additional 25,901 shares in the last quarter. Cerity Partners LLC lifted its stake in Canadian Solar by 131.5% in the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock worth $7,186,000 after acquiring an additional 243,542 shares during the last quarter. KBC Group NV lifted its stake in Canadian Solar by 36.2% in the third quarter. KBC Group NV now owns 142,402 shares of the solar energy provider’s stock worth $2,387,000 after acquiring an additional 37,850 shares during the last quarter. Finally, Barclays PLC grew its holdings in Canadian Solar by 494.4% during the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock worth $1,932,000 after acquiring an additional 95,924 shares in the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Trading Down 0.6 %

NASDAQ:CSIQ opened at $11.05 on Monday. The company has a market capitalization of $731.07 million, a PE ratio of -92.08, a P/E/G ratio of 0.80 and a beta of 1.27. Canadian Solar Inc. has a 52-week low of $10.60 and a 52-week high of $25.43. The stock’s 50 day moving average price is $11.94 and its 200 day moving average price is $13.56. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, research analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CSIQ shares. Mizuho started coverage on shares of Canadian Solar in a report on Friday, December 13th. They issued an “outperform” rating and a $20.00 price objective on the stock. Citigroup cut Canadian Solar from a “neutral” rating to a “sell” rating and cut their price target for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. StockNews.com cut Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company dropped their price objective on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, Jefferies Financial Group began coverage on Canadian Solar in a research note on Friday, November 22nd. They set a “buy” rating and a $14.15 target price for the company. Five research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.31.

Canadian Solar Profile

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.