Wilmington Savings Fund Society FSB Sells 11,900 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Wilmington Savings Fund Society FSB cut its holdings in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 70.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,050 shares of the solar energy provider’s stock after selling 11,900 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Canadian Solar were worth $85,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CSIQ. Rhumbline Advisers lifted its holdings in Canadian Solar by 34.6% in the 2nd quarter. Rhumbline Advisers now owns 19,459 shares of the solar energy provider’s stock worth $287,000 after purchasing an additional 5,003 shares in the last quarter. Foundry Partners LLC purchased a new position in shares of Canadian Solar in the second quarter worth $3,667,000. SIR Capital Management L.P. purchased a new position in shares of Canadian Solar in the second quarter worth $3,994,000. American Century Companies Inc. boosted its position in shares of Canadian Solar by 8.0% during the second quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock worth $276,000 after acquiring an additional 1,383 shares during the last quarter. Finally, DRW Securities LLC grew its stake in Canadian Solar by 36.0% during the second quarter. DRW Securities LLC now owns 68,000 shares of the solar energy provider’s stock valued at $1,003,000 after acquiring an additional 18,000 shares in the last quarter. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Stock Up 6.9 %

Shares of CSIQ stock opened at $11.50 on Friday. The stock’s fifty day moving average price is $12.66 and its 200 day moving average price is $14.31. Canadian Solar Inc. has a 1-year low of $10.60 and a 1-year high of $26.85. The company has a market cap of $760.83 million, a price-to-earnings ratio of -95.83, a price-to-earnings-growth ratio of 8.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.

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

Wall Street Analysts Forecast Growth

CSIQ has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Canadian Solar in a research note on Friday, November 22nd. They issued a “buy” rating and a $14.15 price target on the stock. The Goldman Sachs Group lowered Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price target for the company from $14.00 to $11.00 in a research note on Tuesday. Wells Fargo & Company reduced their price objective on Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 5th. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Roth Mkm reduced their price target on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.58.

About Canadian Solar

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.