Cerity Partners LLC Decreases Stock Position in Canadian Solar Inc. (NASDAQ:CSIQ)

Cerity Partners LLC trimmed its holdings in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 42.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 246,297 shares of the solar energy provider's stock after selling 182,436 shares during the period. Cerity Partners LLC owned 0.37% of Canadian Solar worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew 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 purchasing an additional 3,347 shares during the last quarter. Robotti Robert grew its holdings in Canadian Solar by 55.2% during the 4th quarter. Robotti Robert now owns 487,880 shares of the solar energy provider's stock valued at $5,425,000 after buying an additional 173,499 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Canadian Solar by 28.6% during the fourth 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 in the last quarter. IvyRock Asset Management HK Ltd acquired a new position in shares of Canadian Solar in the fourth quarter worth $15,440,000. Finally, Vanguard Group Inc. lifted its position in shares of Canadian Solar by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,027,302 shares of the solar energy provider's stock valued at $22,544,000 after acquiring an additional 23,355 shares in the last quarter. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup raised shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 target price for the company in a research note on Thursday. Wells Fargo & Company cut their price objective 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 downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group cut their price target on Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a report on Wednesday, March 26th. Four investment 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 price target of $17.54.

Canadian Solar Trading Up 3.9 %

Shares of NASDAQ:CSIQ traded up $0.28 during trading on Friday, reaching $7.46. 1,241,125 shares of the stock were exchanged, compared to its average volume of 1,882,504. Canadian Solar Inc. has a 12-month low of $6.57 and a 12-month high of $21.05. The firm's 50-day moving average price is $9.42 and its 200 day moving average price is $11.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. The firm has a market cap of $493.55 million, a price-to-earnings ratio of -62.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.33.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS 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 business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same period in the prior year, the business posted ($0.02) EPS. The business's revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal 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.