Greenwoods Asset Management Hong Kong Ltd. bought a new stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 695,861 shares of the solar energy provider's stock, valued at approximately $7,738,000. Canadian Solar makes up about 0.2% of Greenwoods Asset Management Hong Kong Ltd.'s investment portfolio, making the stock its 27th biggest holding. Greenwoods Asset Management Hong Kong Ltd. owned 1.05% of Canadian Solar at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Shah Capital Management lifted its position in Canadian Solar by 825.6% during the fourth quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider's stock valued at $19,410,000 after purchasing an additional 1,556,964 shares during the last quarter. State Street Corp lifted its holdings in shares of Canadian Solar by 5.6% in the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider's stock valued at $8,159,000 after acquiring an additional 25,901 shares during the last quarter. Cerity Partners LLC grew its position in Canadian Solar by 131.5% in the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider's stock worth $7,186,000 after acquiring an additional 243,542 shares in the last quarter. Waterfront Wealth Inc. increased its stake in Canadian Solar by 16.9% during the fourth quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider's stock worth $2,059,000 after acquiring an additional 26,778 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Canadian Solar by 59.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider's stock worth $2,010,000 after acquiring an additional 67,331 shares during the last quarter. Institutional investors own 52.36% of the company's stock.
Canadian Solar Trading Down 2.3 %
Shares of NASDAQ CSIQ traded down $0.23 during trading hours on Tuesday, reaching $9.61. The stock had a trading volume of 1,681,218 shares, compared to its average volume of 1,687,605. Canadian Solar Inc. has a 52-week low of $9.29 and a 52-week high of $21.05. The firm has a market cap of $635.79 million, a price-to-earnings ratio of -80.08, a P/E/G ratio of 0.74 and a beta of 1.34. The business's fifty day moving average price is $10.87 and its two-hundred day moving average price is $12.32. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.
Analyst Ratings Changes
CSIQ has been the subject of a number of recent research reports. Mizuho started coverage on Canadian Solar in a report on Friday, December 13th. They issued an "outperform" rating and a $20.00 target price for the company. StockNews.com lowered shares of 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 reduced their target price for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Wells Fargo & Company lowered 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 report on Wednesday, January 8th. Finally, Jefferies Financial Group assumed coverage on shares of Canadian Solar in a report on Friday, November 22nd. They set a "buy" rating and a $14.15 price target on the stock. Five research 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $18.31.
Read Our Latest Analysis on CSIQ
Canadian Solar Company Profile
(
Free Report)
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.
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