OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New Investment in Canadian Solar Inc. $CSIQ

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 47,962 shares of the solar energy provider’s stock, valued at approximately $1,140,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.07% of Canadian Solar as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CSIQ. Raymond James Financial Inc. bought a new position in shares of Canadian Solar in the second quarter worth $33,000. Caitong International Asset Management Co. Ltd boosted its stake in Canadian Solar by 335.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock worth $42,000 after purchasing an additional 2,463 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Canadian Solar during the fourth quarter valued at about $48,000. Quarry LP bought a new position in shares of Canadian Solar in the fourth quarter valued at approximately $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Canadian Solar by 7.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after acquiring an additional 312 shares in the last quarter. 52.36% of the stock is owned by institutional investors.

Insider Transactions at Canadian Solar

In other news, Director Leslie Li Hsien Chang sold 1,767 shares of Canadian Solar stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $19.45, for a total value of $34,368.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew Luen Cheung Wong sold 1,752 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $16.33, for a total transaction of $28,610.16. The SEC filing for this sale provides additional information. 21.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CSIQ has been the topic of several research analyst reports. Wall Street Zen raised shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Canadian Solar in a research note on Friday, March 27th. Roth Mkm cut their price objective on Canadian Solar from $30.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Freedom Capital downgraded shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company cut their price target on shares of Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $18.66.

Canadian Solar Price Performance

CSIQ stock opened at $16.27 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59. The firm has a 50-day moving average of $16.50 and a 200 day moving average of $18.78. The company has a market cap of $1.10 billion, a P/E ratio of -6.46 and a beta of 1.50.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Friday, May 15th. The solar energy provider reported ($0.71) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.35. Canadian Solar had a negative return on equity of 4.20% and a negative net margin of 1.87%.The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $950.43 million. During the same quarter last year, the firm posted ($1.07) earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Canadian Solar Inc. will post -1.81 EPS for the current year.

Canadian Solar Company Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.