Skandinaviska Enskilda Banken AB publ Decreases Stake in Canadian Solar Inc. (NASDAQ:CSIQ)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 30.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 167,243 shares of the solar energy provider’s stock after selling 73,609 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.25% of Canadian Solar worth $1,878,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Greenwoods Asset Management Hong Kong Ltd. acquired a new position in shares of Canadian Solar during the 4th quarter worth $7,738,000. Charles Schwab Investment Management Inc. raised its stake in shares of Canadian Solar by 59.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider’s stock worth $2,010,000 after buying an additional 67,331 shares during the last quarter. Waterfront Wealth Inc. raised its stake in shares of Canadian Solar by 16.9% during the 4th quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider’s stock worth $2,059,000 after buying an additional 26,778 shares during the last quarter. Shah Capital Management raised its stake in shares of Canadian Solar by 825.6% during the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock worth $19,410,000 after buying an additional 1,556,964 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Canadian Solar by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 85,545 shares of the solar energy provider’s stock worth $951,000 after buying an additional 16,815 shares during the last quarter. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Trading Up 1.4 %

NASDAQ CSIQ opened at $9.43 on Monday. Canadian Solar Inc. has a 12 month low of $9.19 and a 12 month high of $21.05. The company has a 50-day moving average of $10.69 and a 200-day moving average of $12.22. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The company has a market cap of $623.88 million, a P/E ratio of -78.58, a P/E/G ratio of 0.74 and a beta of 1.34.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho assumed coverage on Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 price target for the company. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. The Goldman Sachs Group downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and cut their target price for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Wells Fargo & Company cut their target price on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group began coverage on shares of Canadian Solar in a research note on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price for the company. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Solar has a consensus rating of “Hold” and a consensus price target of $18.04.

Canadian Solar 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.