MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $8.07 Million Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 718,641 shares of the solar energy provider’s stock after selling 40,897 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Canadian Solar were worth $8,065,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in Canadian Solar by 184.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after buying an additional 3,347 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Canadian Solar by 6.7% during the fourth quarter. NewEdge Advisors LLC now owns 75,481 shares of the solar energy provider’s stock worth $839,000 after purchasing an additional 4,717 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Canadian Solar by 28.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,193 shares of the solar energy provider’s stock worth $466,000 after purchasing an additional 8,505 shares during the period. Mariner LLC lifted its stake in Canadian Solar by 100.0% during the fourth quarter. Mariner LLC now owns 20,000 shares of the solar energy provider’s stock worth $222,000 after purchasing an additional 10,000 shares during the period. Finally, Sciencast Management LP bought a new position in Canadian Solar during the fourth quarter worth about $113,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $10.85 on Friday. Canadian Solar Inc. has a 1 year low of $6.57 and a 1 year high of $21.05. The firm has a 50 day moving average of $8.96 and a 200-day moving average of $10.63. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $717.83 million, a P/E ratio of -90.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.43. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.11 billion. As a group, sell-side analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on CSIQ shares. Citigroup upgraded shares of Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 price target for the company in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price target on shares of Canadian Solar from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Canadian Solar from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday. Roth Capital cut shares of Canadian Solar from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Friday, April 25th. Finally, StockNews.com upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.86.

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.