Deutsche Bank AG lifted its position in Canadian Solar (NASDAQ:CSIQ) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 339,155 shares of the solar energy provider’s stock after purchasing an additional 49,440 shares during the quarter. Deutsche Bank AG owned approximately 0.58% of Canadian Solar worth $5,717,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of CSIQ. Oppenheimer & Co. Inc. purchased a new position in Canadian Solar in the 4th quarter valued at approximately $223,000. State Street Corp boosted its holdings in shares of Canadian Solar by 6.0% during the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after purchasing an additional 1,227 shares during the last quarter. Quinn Opportunity Partners LLC acquired a new stake in shares of Canadian Solar during the fourth quarter worth $354,000. Northern Trust Corp boosted its holdings in shares of Canadian Solar by 11.7% during the second quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock worth $487,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Kassirer Asset Management Corp acquired a new stake in shares of Canadian Solar during the fourth quarter worth $506,000. 39.15% of the stock is owned by institutional investors.
CSIQ has been the topic of a number of research analyst reports. Goldman Sachs initiated coverage on Canadian Solar in a report on Tuesday, January 9th. They issued a “neutral” rating and a $19.00 target price on the stock. B. Riley set a $15.00 price objective on Canadian Solar and gave the company a “hold” rating in a research report on Friday, January 12th. BidaskClub lowered Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. JPMorgan Chase raised Canadian Solar from an “underweight” rating to a “neutral” rating and set a $16.00 target price on the stock in a research report on Thursday, February 1st. Finally, ValuEngine raised Canadian Solar from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.92.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Monday, March 19th. The solar energy provider reported $1.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Canadian Solar had a return on equity of 6.11% and a net margin of 2.94%. The firm’s quarterly revenue was up 65.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. analysts anticipate that Canadian Solar will post 1.4 earnings per share for the current fiscal year.
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About Canadian Solar
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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