Hussman Strategic Advisors Inc. Takes Position in Canadian Solar Inc. $CSIQ

Hussman Strategic Advisors Inc. bought a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) during the 4th quarter, Holdings Channel reports. The firm bought 126,000 shares of the solar energy provider’s stock, valued at approximately $2,995,000. Canadian Solar accounts for about 0.7% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in CSIQ. Goldman Sachs Group Inc. grew its position in shares of Canadian Solar by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock valued at $4,748,000 after purchasing an additional 92,002 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Canadian Solar by 141.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock valued at $100,000 after purchasing an additional 5,338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Canadian Solar by 20.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock valued at $9,539,000 after purchasing an additional 145,867 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Canadian Solar in the second quarter valued at approximately $33,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Canadian Solar in the second quarter valued at approximately $790,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSIQ. Wells Fargo & Company decreased their target price on Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Roth Mkm reduced their price target on Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Freedom Capital raised Canadian Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of Canadian Solar in a research report on Friday, March 27th. Finally, Oppenheimer reduced their price target on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.36.

Canadian Solar Trading Up 9.3%

Shares of NASDAQ:CSIQ opened at $16.71 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of -6.68 and a beta of 1.44. Canadian Solar Inc. has a 1 year low of $8.84 and a 1 year high of $34.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.02 and a quick ratio of 0.83. The business’s 50 day simple moving average is $15.29 and its 200 day simple moving average is $19.82.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share (EPS) for the quarter. The company had revenue of $1.22 billion for the quarter. Canadian Solar had a negative return on equity of 4.95% and a negative net margin of 1.86%. On average, research analysts anticipate that Canadian Solar Inc. will post -1.44 EPS for the current fiscal 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.