Prospera Financial Services Inc Takes Position in Canadian Solar Inc. (NASDAQ:CSIQ)

Prospera Financial Services Inc bought a new position in Canadian Solar Inc. (NASDAQ:CSIQ) during the third quarter, HoldingsChannel reports. The fund bought 19,877 shares of the solar energy provider’s stock, valued at approximately $333,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CSIQ. Bayesian Capital Management LP bought a new position in shares of Canadian Solar in the first quarter worth about $575,000. Virtu Financial LLC bought a new position in shares of Canadian Solar in the first quarter worth approximately $336,000. DNB Asset Management AS increased its stake in shares of Canadian Solar by 31.4% in the second quarter. DNB Asset Management AS now owns 886,963 shares of the solar energy provider’s stock worth $13,083,000 after purchasing an additional 211,820 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Canadian Solar by 337.9% during the 2nd quarter. SG Americas Securities LLC now owns 32,809 shares of the solar energy provider’s stock valued at $484,000 after purchasing an additional 25,317 shares during the period. Finally, D. Scott Neal Inc. purchased a new position in shares of Canadian Solar during the 2nd quarter valued at $3,898,000. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Oppenheimer decreased their price target on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, August 23rd. Glj Research boosted their price target on Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a report on Tuesday, July 30th. StockNews.com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on Canadian Solar in a research note on Friday. They issued a “buy” rating and a $14.15 price objective on the stock. Finally, Roth Mkm reduced their target price on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Solar currently has an average rating of “Hold” and a consensus target price of $19.94.

Canadian Solar Price Performance

Shares of CSIQ stock opened at $11.91 on Monday. Canadian Solar Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $26.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.04. The firm has a market capitalization of $787.95 million, a price-to-earnings ratio of 23.35, a PEG ratio of 3.69 and a beta of 1.34. The stock’s 50-day simple moving average is $13.74 and its 200-day simple moving average is $14.97.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, August 22nd. The solar energy provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Canadian Solar had a net margin of 0.56% and a return on equity of 0.99%. Canadian Solar’s revenue for the quarter was down 30.8% on a year-over-year basis. During the same period last year, the business earned $2.39 EPS. As a group, equities analysts forecast that Canadian Solar Inc. will post 0.12 earnings per share for the current fiscal year.

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.