Columbus Circle Investors Increases Stake in Canadian Solar Inc. (CSIQ)
Columbus Circle Investors lifted its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 292.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,380 shares of the solar energy provider’s stock after purchasing an additional 58,421 shares during the quarter. Columbus Circle Investors owned 0.14% of Canadian Solar worth $1,320,000 as of its most recent SEC filing.
Other hedge funds 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 $115,000. Legal & General Group Plc lifted its position 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 purchasing an additional 4,100 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Canadian Solar in the second quarter worth $323,000. State Street Corp increased its holdings in Canadian Solar by 6.0% during the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after buying an additional 1,227 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Canadian Solar during the second quarter worth $370,000. 42.54% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the stock. Axiom Securities set a $26.00 target price on shares of Canadian Solar and gave the stock a “buy” rating in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Roth Capital upgraded shares of Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Friday, November 10th. B. Riley restated a “neutral” rating on shares of Canadian Solar in a report on Wednesday, November 1st. Finally, Cowen and Company restated a “hold” rating and set a $17.00 target price on shares of Canadian Solar in a report on Sunday, October 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.01.
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Canadian Solar Inc. (CSIQ) opened at $18.09 on Wednesday. Canadian Solar Inc. has a fifty-two week low of $10.36 and a fifty-two week high of $19.09. The company has a market cap of $1,051.60, a price-to-earnings ratio of 86.33, a price-to-earnings-growth ratio of 0.72 and a beta of 3.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. The firm had revenue of $912.20 million for the quarter, compared to the consensus estimate of $812.37 million. During the same period in the previous year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 38.8% on a year-over-year basis. equities research analysts predict that Canadian Solar Inc. will post 0.97 EPS for the current year.
Canadian Solar 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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