SG Americas Securities LLC Sells 27,724 Shares of Canadian Solar Inc. (NASDAQ:CSIQ) - Defense World

SG Americas Securities LLC Sells 27,724 Shares of Canadian Solar Inc. (NASDAQ:CSIQ) - Defense World

SG Americas Securities LLC reduced its holdings in Canadian Solar Inc. ( NASDAQ:CSIQ– Free Report) by 78.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,492 shares of the solar energy provider’s stock after selling 27,724 shares during the quarter. SG Americas Securities LLC’s holdings in Canadian Solar were worth $148,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. USCF Advisers LLC grew its position in shares of Canadian Solar by 87.5% in the 4th quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock worth $39,000 after buying an additional 700 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Canadian Solar by 72.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock valued at $146,000 after purchasing an additional 3,100 shares during the period. Private Advisor Group LLC purchased a new position in shares of Canadian Solar in the 4th quarter valued at approximately $201,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Canadian Solar by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 12,481 shares of the solar energy provider’s stock valued at $326,000 after purchasing an additional 928 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Canadian Solar in the 4th quarter valued at approximately $359,000. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Stock Up 5.7 %

CSIQ stock opened at $17.13 on Friday. Canadian Solar Inc. has a 1-year low of $13.80 and a 1-year high of $37.39. The business has a fifty day moving average price of $16.82 and a 200-day moving average price of $18.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.79. The stock has a market capitalization of $1.13 billion, a P/E ratio of 5.95, a P/E/G ratio of 0.31 and a beta of 1.29.

NASDAQ:CSIQ–

Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.20. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The company’s revenue was down 21.1% on a year-over-year basis. Equities analysts forecast that Canadian Solar Inc. will post 2.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSIQ. JPMorgan Chase & Co. raised their target price on Canadian Solar from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. UBS Group lowered their price objective on Canadian Solar from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. StockNews.com upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Roth Mkm reiterated a “buy” rating and set a $25.00 price objective on shares of Canadian Solar in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.67.

Get Our Latest Stock Analysis on CSIQ

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.

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