384,038 Shares in Canadian Solar Inc. $CSIQ Acquired by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL acquired a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 384,038 shares of the solar energy provider’s stock, valued at approximately $5,008,000. Tudor Investment Corp ET AL owned 0.57% of Canadian Solar as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Canadian Solar in the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd increased its stake in Canadian Solar by 335.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock valued at $42,000 after purchasing an additional 2,463 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Canadian Solar by 7.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after purchasing an additional 312 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Canadian Solar during the third quarter worth $73,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Canadian Solar by 38.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider’s stock valued at $89,000 after buying an additional 2,254 shares in the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSIQ. Weiss Ratings reiterated a “sell (d+)” rating on shares of Canadian Solar in a report on Monday, December 29th. Roth Mkm lowered their target price on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday. Daiwa Securities Group raised shares of Canadian Solar from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Tuesday, December 2nd. Mizuho cut their price target on Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Oppenheimer decreased their price objective on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Canadian Solar presently has a consensus rating of “Reduce” and an average price target of $17.66.

Canadian Solar Price Performance

CSIQ opened at $14.31 on Thursday. Canadian Solar Inc. has a 1 year low of $6.57 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 company has a market capitalization of $958.34 million, a price-to-earnings ratio of -5.72 and a beta of 1.31. The firm’s fifty day moving average price is $19.00 and its two-hundred day moving average price is $19.74.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, March 19th. The solar energy provider reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.56). Canadian Solar had a negative net margin of 1.86% and a negative return on equity of 4.95%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. As a group, analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal year.

Canadian Solar 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.