Oppenheimer & Co. Inc. maintained its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,690 shares of the solar energy provider’s stock at the close of the second quarter. Oppenheimer & Co. Inc.’s holdings in Canadian Solar were worth $218,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in CSIQ. Pacad Investment Ltd. bought a new stake in Canadian Solar in the second quarter worth $115,000. Legal & General Group Plc lifted its stake in Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after purchasing an additional 4,100 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Canadian Solar by 20.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock worth $228,000 after purchasing an additional 3,100 shares during the last quarter. Columbus Circle Investors bought a new stake in Canadian Solar in the second quarter worth $318,000. Finally, Global X Management Co. LLC lifted its stake in Canadian Solar by 7.5% in the first quarter. Global X Management Co. LLC now owns 22,345 shares of the solar energy provider’s stock worth $274,000 after purchasing an additional 1,562 shares during the last quarter. Institutional investors own 40.83% of the company’s stock.
CSIQ has been the subject of several recent research reports. ValuEngine downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company boosted their price target on shares of Canadian Solar from $10.00 to $13.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 7th. Axiom Securities reissued a “sell” rating on shares of Canadian Solar in a research note on Friday, June 9th. BidaskClub downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.12.
Canadian Solar Inc. (NASDAQ CSIQ) opened at 16.02 on Thursday. Canadian Solar Inc. has a 52 week low of $10.25 and a 52 week high of $18.12. The stock’s 50 day moving average is $16.38 and its 200 day moving average is $14.49. The company has a market capitalization of $928.31 million, a P/E ratio of 37.96 and a beta of 3.12.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Monday, August 14th. The solar energy provider reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Canadian Solar had a net margin of 1.01% and a return on equity of 1.71%. The firm had revenue of $692.37 million during the quarter, compared to analysts’ expectations of $631.05 million. During the same period in the previous year, the company earned $0.68 EPS. The firm’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, equities research analysts expect that Canadian Solar Inc. will post $1.62 earnings per share for the current year.
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Canadian Solar 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.
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