Canadian Solar Inc. (CSIQ) Holdings Raised by Van ECK Associates Corp
Van ECK Associates Corp grew its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,436 shares of the solar energy provider’s stock after acquiring an additional 2,217 shares during the quarter. Van ECK Associates Corp owned 0.15% of Canadian Solar worth $1,344,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Pacad Investment Ltd. bought a new stake in shares of Canadian Solar in the second quarter worth about $115,000. Legal & General Group Plc increased its holdings in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after acquiring an additional 4,100 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Canadian Solar by 20.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock worth $228,000 after acquiring an additional 3,100 shares in the last quarter. Columbus Circle Investors bought a new stake in shares of Canadian Solar in the second quarter worth about $318,000. Finally, Global X Management Co. LLC increased its holdings in shares of Canadian Solar by 7.5% in the first quarter. Global X Management Co. LLC now owns 22,345 shares of the solar energy provider’s stock worth $274,000 after acquiring an additional 1,562 shares in the last quarter. Institutional investors own 40.83% of the company’s stock.
Canadian Solar Inc. (NASDAQ:CSIQ) opened at 16.73 on Thursday. The company’s 50 day moving average price is $16.38 and its 200-day moving average price is $14.49. Canadian Solar Inc. has a 12-month low of $10.25 and a 12-month high of $18.12. The company has a market capitalization of $969.45 million, a P/E ratio of 39.64 and a beta of 3.12.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Canadian Solar had a return on equity of 1.71% and a net margin of 1.01%. The business had revenue of $692.37 million for the quarter, compared to the consensus estimate of $631.05 million. During the same period in the prior year, the business earned $0.68 EPS. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis. Equities analysts forecast that Canadian Solar Inc. will post $1.62 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded Canadian Solar from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. FBR & Co restated a “neutral” rating and issued a $15.00 price target (up from $13.00) on shares of Canadian Solar in a report on Tuesday, August 15th. Cowen and Company set a $16.00 price target on Canadian Solar and gave the stock a “hold” rating in a report on Monday, August 14th. Finally, Vetr upgraded Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $19.06 price target for the company in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.12.
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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.
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