USCF Advisers LLC Has $28,000 Stock Position in Canadian Solar Inc. (NASDAQ:CSIQ)

USCF Advisers LLC raised its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 66.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,500 shares of the solar energy provider’s stock after buying an additional 1,000 shares during the quarter. Canadian Solar accounts for about 2.8% of USCF Advisers LLC’s investment portfolio, making the stock its 3rd largest holding. USCF Advisers LLC’s holdings in Canadian Solar were worth $28,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in Canadian Solar by 25.4% in the second quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock worth $75,456,000 after acquiring an additional 1,037,800 shares during the period. State Street Corp lifted its position in shares of Canadian Solar by 5.6% in the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after purchasing an additional 25,901 shares during the period. Cerity Partners LLC boosted its stake in shares of Canadian Solar by 131.5% during the 3rd quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after purchasing an additional 243,542 shares in the last quarter. KBC Group NV increased its position in shares of Canadian Solar by 36.2% during the third quarter. KBC Group NV now owns 142,402 shares of the solar energy provider’s stock valued at $2,387,000 after buying an additional 37,850 shares during the period. Finally, Barclays PLC raised its stake in Canadian Solar by 494.4% in the third quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock worth $1,932,000 after buying an additional 95,924 shares in the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CSIQ shares. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $14.00 to $11.00 in a report on Tuesday, December 17th. Citigroup lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $19.00 to $11.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company cut their price target on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Mizuho assumed coverage on Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Canadian Solar in a report on Friday, November 22nd. They set a “buy” rating and a $14.15 price target for the company. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.31.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $11.34 on Thursday. Canadian Solar Inc. has a 12-month low of $10.60 and a 12-month high of $25.43. The stock has a 50-day moving average price of $12.00 and a 200 day moving average price of $13.62. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $750.25 million, a P/E ratio of -94.50, a P/E/G ratio of 8.83 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was down 18.4% on a year-over-year basis. Equities research analysts forecast that Canadian Solar Inc. will post 0.06 EPS for the current fiscal year.

Canadian Solar Company Profile

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