Canadian Solar Inc. (CSIQ) Stake Decreased by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA reduced its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,778 shares of the solar energy provider’s stock after selling 6,529 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.07% of Canadian Solar worth $636,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CSIQ. Pacad Investment Ltd. bought a new stake in shares of Canadian Solar in the 2nd quarter worth approximately $115,000. Legal & General Group Plc grew its position in shares of Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after buying an additional 4,100 shares during the last quarter. Columbus Circle Investors bought a new stake in shares of Canadian Solar in the 2nd quarter worth approximately $318,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Canadian Solar in the 2nd quarter worth approximately $323,000. Finally, State Street Corp lifted its stake in shares of Canadian Solar by 6.0% in the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after purchasing an additional 1,227 shares during the period. Hedge funds and other institutional investors own 42.52% of the company’s stock.
A number of research analysts have recently commented on CSIQ shares. B. Riley restated a “neutral” rating on shares of Canadian Solar in a research note on Wednesday, November 1st. Barclays cut Canadian Solar from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $12.00 to $14.00 in a research note on Monday, August 21st. Axiom Securities set a $26.00 target price on Canadian Solar and gave the company a “buy” rating in a research note on Wednesday, November 15th. BidaskClub upgraded Canadian Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, Roth Capital upgraded Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $20.01.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.22. The business had revenue of $912.20 million during the quarter, compared to analysts’ expectations of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. analysts expect that Canadian Solar Inc. will post 0.97 earnings per share for the current year.
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About Canadian Solar
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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