Quantbot Technologies LP bought a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,290 shares of the solar energy provider’s stock, valued at approximately $370,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacad Investment Ltd. purchased a new stake in Canadian Solar during the second quarter valued at about $115,000. Legal & General Group Plc lifted its stake in Canadian Solar by 111.1% during 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% during 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. Global X Management Co. LLC lifted its stake in Canadian Solar by 7.5% during 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. Finally, Paloma Partners Management Co bought a new stake in Canadian Solar during the first quarter worth about $303,000. 41.81% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Monday, August 28th. Axiom Securities reissued a “buy” rating on shares of Canadian Solar in a report on Saturday, August 26th. Barclays PLC cut Canadian Solar from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $12.00 to $14.00 in a report on Monday, August 21st. BidaskClub downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, FBR & Co restated a “neutral” rating and issued a $15.00 target price (up previously from $13.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Canadian Solar has an average rating of “Hold” and an average price target of $17.12.

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Canadian Solar Inc. (NASDAQ:CSIQ) opened at 16.84 on Monday. The company has a market capitalization of $975.83 million, a price-to-earnings ratio of 39.91 and a beta of 3.15. Canadian Solar Inc. has a 52-week low of $10.25 and a 52-week high of $18.12. The company’s 50-day moving average price is $16.38 and its 200 day moving average price is $14.49.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share for the quarter, beating 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 analyst estimates of $631.05 million. During the same period last year, the firm posted $0.68 earnings per share. Canadian Solar’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, equities analysts expect that Canadian Solar Inc. will post $1.62 EPS for the current fiscal year.

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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