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

Guinness Atkinson Asset Management Inc lowered its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 6.4% during 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 reporting period.

Other large investors have also modified their holdings of the company. USCF Advisers LLC increased its stake in Canadian Solar by 66.7% in the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 1,000 shares during the period. Miracle Mile Advisors LLC purchased a new stake in shares of Canadian Solar in the fourth quarter valued at about $133,000. Sanctuary Advisors LLC boosted its holdings in shares of Canadian Solar by 37.1% in the third quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider’s stock valued at $520,000 after acquiring an additional 8,404 shares in the last quarter. Barclays PLC increased its stake in shares of Canadian Solar by 494.4% during the third 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 during the period. Finally, State Street Corp raised its holdings in Canadian Solar by 5.6% during the third quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after purchasing an additional 25,901 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $11.05 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $731.07 million, a P/E ratio of -92.08, a price-to-earnings-growth ratio of 0.80 and a beta of 1.27. The firm has a 50-day moving average price of $11.94 and a two-hundred day moving average price of $13.56. Canadian Solar Inc. has a twelve month low of $10.60 and a twelve month high of $25.43.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company posted $0.32 EPS. The company’s revenue was down 18.4% on a year-over-year basis. As a group, research analysts expect that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSIQ. Wells Fargo & Company lowered 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. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and decreased their price target for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Mizuho initiated coverage on Canadian Solar in a research report on Friday, December 13th. They issued an “outperform” rating and a $20.00 price objective for the company. StockNews.com lowered shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Citigroup cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $19.00 to $11.00 in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.31.

Canadian Solar Company 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.