Duality Advisers LP Purchases 30,694 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Duality Advisers LP boosted its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 79.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 69,461 shares of the solar energy provider’s stock after purchasing an additional 30,694 shares during the period. Duality Advisers LP owned about 0.11% of Canadian Solar worth $1,822,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSIQ. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Canadian Solar by 137.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider’s stock valued at $92,569,000 after acquiring an additional 2,180,240 shares during the period. Mackenzie Financial Corp grew its position in shares of 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 valued at $103,661,000 after acquiring an additional 843,100 shares during the period. Creative Planning grew its position in shares of Canadian Solar by 103.3% during the 3rd quarter. Creative Planning now owns 404,759 shares of the solar energy provider’s stock valued at $9,961,000 after acquiring an additional 205,671 shares during the period. Schroder Investment Management Group grew its position in shares of Canadian Solar by 13.4% during 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 acquiring an additional 161,224 shares during the period. Finally, Hussman Strategic Advisors Inc. grew its position in shares of Canadian Solar by 67.7% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 262,500 shares of the solar energy provider’s stock valued at $6,460,000 after acquiring an additional 106,000 shares during the period. 52.36% of the stock is owned by institutional investors.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $14.97 on Tuesday. Canadian Solar Inc. has a twelve month low of $14.11 and a twelve month high of $45.29. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. The stock has a market cap of $965.71 million, a P/E ratio of 3.86, a PEG ratio of 0.22 and a beta of 1.26. The business’s 50-day moving average price is $19.36 and its two-hundred day moving average price is $21.29.

Canadian Solar (NASDAQ:CSIQ) last announced its 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 business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.69 billion. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. Canadian Solar’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share. As a group, equities analysts predict that Canadian Solar Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CSIQ shares. Wells Fargo & Company reduced their target price on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 19th. Daiwa Capital Markets assumed coverage on shares of Canadian Solar in a report on Monday, March 11th. They issued a “neutral” rating and a $21.00 price objective 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. StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group cut their price objective on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Solar currently has an average rating of “Hold” and a consensus price target of $31.78.

About Canadian Solar

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.