USCF Advisers LLC Buys 700 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

USCF Advisers LLC increased its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 87.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,500 shares of the solar energy provider’s stock after purchasing an additional 700 shares during the period. Canadian Solar accounts for approximately 9.8% of USCF Advisers LLC’s investment portfolio, making the stock its 2nd biggest position. USCF Advisers LLC’s holdings in Canadian Solar were worth $39,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Canadian Solar by 27.1% during the 4th quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock worth $103,661,000 after buying an additional 843,100 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Canadian Solar by 137.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider’s stock worth $92,569,000 after purchasing an additional 2,180,240 shares in the last quarter. Vanguard Group Inc. raised its stake in Canadian Solar by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,964,359 shares of the solar energy provider’s stock valued at $48,343,000 after purchasing an additional 8,317 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Canadian Solar by 13.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,361,724 shares of the solar energy provider’s stock valued at $33,512,000 after purchasing an additional 161,224 shares in the last quarter. Finally, Guinness Asset Management LTD boosted its stake in Canadian Solar by 5.7% during the 3rd quarter. Guinness Asset Management LTD now owns 1,115,502 shares of the solar energy provider’s stock worth $27,454,000 after purchasing an additional 60,392 shares during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

Canadian Solar Trading Up 5.4 %

Shares of CSIQ traded up $0.78 during mid-day trading on Friday, hitting $15.28. The company had a trading volume of 692,443 shares, compared to its average volume of 1,421,900. Canadian Solar Inc. has a 1-year low of $14.11 and a 1-year high of $45.29. The business’s 50-day simple moving average is $18.87 and its 200-day simple moving average is $21.15. The stock has a market cap of $985.71 million, a PE ratio of 3.74, a P/E/G ratio of 0.23 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.45.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. Canadian Solar’s revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter last year, the business earned $1.11 EPS. Sell-side analysts forecast that Canadian Solar Inc. will post 2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

CSIQ has been the subject of a number of recent research reports. Daiwa Capital Markets started coverage on shares of Canadian Solar in a research report on Monday, March 11th. They issued a “neutral” rating and a $21.00 target price for the company. Citigroup cut their price objective on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th. The Goldman Sachs Group lowered their target price on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Wells Fargo & Company cut their price target on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, March 19th. Finally, StockNews.com raised Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.78.

Canadian Solar Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.