Invesco Ltd. Sells 48,338 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Invesco Ltd. cut its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,001,032 shares of the solar energy provider's stock after selling 48,338 shares during the period. Invesco Ltd. owned 3.02% of Canadian Solar worth $22,251,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. USCF Advisers LLC raised its stake in Canadian Solar by 66.7% in the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after acquiring an additional 3,347 shares during the period. Sciencast Management LP purchased a new position in Canadian Solar during the 4th quarter valued at about $113,000. Miracle Mile Advisors LLC purchased a new stake in Canadian Solar in the 4th quarter worth approximately $133,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Canadian Solar by 28.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,193 shares of the solar energy provider's stock worth $466,000 after buying an additional 8,505 shares during the last quarter. 52.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSIQ has been the subject of a number of research analyst reports. Citigroup raised Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price target for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on shares of Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. StockNews.com lowered shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group dropped their target price on Canadian Solar from $11.00 to $9.00 and set a "sell" rating on the stock in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $17.54.

Canadian Solar Stock Performance

NASDAQ:CSIQ traded down $0.14 during trading hours on Monday, reaching $7.32. The company had a trading volume of 958,472 shares, compared to its average volume of 1,872,763. The firm has a market cap of $484.28 million, a price-to-earnings ratio of -61.00, a PEG ratio of 0.74 and a beta of 1.33. 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 firm's 50 day moving average price is $9.32 and its 200-day moving average price is $11.15. Canadian Solar Inc. has a 52 week low of $6.57 and a 52 week high of $21.05.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the company posted ($0.02) EPS. The firm's revenue was down 1.8% compared to the same quarter last year. On average, analysts forecast that Canadian Solar Inc. will post -0.23 EPS for the current 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.