Canadian Solar Inc. (NASDAQ:CSIQ) Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. increased its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 16.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,175 shares of the solar energy provider’s stock after acquiring an additional 26,778 shares during the period. Waterfront Wealth Inc.’s holdings in Canadian Solar were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSIQ. USCF Advisers LLC raised 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 worth $28,000 after acquiring an additional 1,000 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Canadian Solar during the 4th quarter valued at about $133,000. Daiwa Securities Group Inc. raised its stake in shares of Canadian Solar by 20.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock valued at $149,000 after buying an additional 1,500 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Canadian Solar during the 3rd quarter valued at about $219,000. Finally, Prospera Financial Services Inc purchased a new position in shares of Canadian Solar in the 3rd quarter valued at about $333,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Mizuho assumed coverage on Canadian Solar in a research note on Friday, December 13th. They issued an “outperform” rating and a $20.00 price target for the company. The Goldman Sachs Group lowered Canadian Solar from a “neutral” rating to a “sell” rating and cut their price target for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Jefferies Financial Group began coverage on Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 price objective on the stock. Finally, 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. Five analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Solar has an average rating of “Hold” and an average target price of $18.31.

Canadian Solar Trading Up 2.7 %

Shares of Canadian Solar stock opened at $11.35 on Friday. Canadian Solar Inc. has a 1-year low of $9.56 and a 1-year high of $22.59. The stock has a market cap of $750.92 million, a P/E ratio of -94.58, a P/E/G ratio of 0.71 and a beta of 1.26. The stock’s 50 day simple moving average is $11.12 and its 200-day simple moving average is $12.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was down 18.4% on a year-over-year basis. Analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Canadian Solar 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.