Pacad Investment Ltd. Invests $115,000 in Canadian Solar Inc. (CSIQ) Stock

Pacad Investment Ltd. acquired a new stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,212 shares of the solar energy provider’s stock, valued at approximately $115,000.

A number of other hedge funds also recently bought and sold shares of the stock. Prescott Group Capital Management L.L.C. increased its position in Canadian Solar by 2.8% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 664,341 shares of the solar energy provider’s stock valued at $10,576,000 after buying an additional 17,980 shares in the last quarter. Bank of America Corp DE increased its position in Canadian Solar by 10.2% during the 1st quarter. Bank of America Corp DE now owns 492,227 shares of the solar energy provider’s stock valued at $6,040,000 after buying an additional 45,650 shares in the last quarter. SG Americas Securities LLC increased its position in Canadian Solar by 194.4% during the 1st quarter. SG Americas Securities LLC now owns 171,985 shares of the solar energy provider’s stock valued at $2,110,000 after buying an additional 113,569 shares in the last quarter. California Public Employees Retirement System increased its position in Canadian Solar by 2.1% during the 1st quarter. California Public Employees Retirement System now owns 143,600 shares of the solar energy provider’s stock valued at $1,762,000 after buying an additional 2,900 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Canadian Solar by 16.6% during the 2nd quarter. First Trust Advisors LP now owns 60,070 shares of the solar energy provider’s stock valued at $956,000 after buying an additional 8,567 shares in the last quarter. 41.26% of the stock is owned by institutional investors.

CSIQ has been the subject of a number of research analyst reports. Vetr raised Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $19.06 target price for the company in a report on Thursday, August 10th. BidaskClub lowered Canadian Solar from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. FBR & Co reissued a “neutral” rating and issued a $15.00 target price (up previously from $13.00) on shares of Canadian Solar in a report on Tuesday, August 15th. Zacks Investment Research lowered Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Monday, August 28th. Finally, Axiom Securities reissued a “sell” rating on shares of Canadian Solar in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $17.12.

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) opened at 17.27 on Friday. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 40.92 and a beta of 3.12. The company has a 50 day moving average price of $16.39 and a 200 day moving average price of $14.46. Canadian Solar Inc. has a one year low of $10.25 and a one year high of $18.12.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Monday, August 14th. The solar energy provider reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Canadian Solar had a return on equity of 1.71% and a net margin of 1.01%. The firm had revenue of $692.37 million during the quarter, compared to analyst estimates of $631.05 million. During the same quarter in the prior year, the business posted $0.68 EPS. The business’s revenue for the quarter was down 14.1% compared to the same quarter last year. Equities analysts predict that Canadian Solar Inc. will post $1.64 EPS for the current year.

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Canadian Solar Company Profile

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.

Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

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