Canadian Solar Inc. (NASDAQ:CSIQ) Stock Position Reduced by Legal & General Group Plc

Legal & General Group Plc decreased its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,439,806 shares of the solar energy provider's stock after selling 149,931 shares during the period. Legal & General Group Plc owned approximately 2.18% of Canadian Solar worth $16,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of 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 valued at $2,010,000 after acquiring an additional 67,331 shares during the period. Shah Capital Management boosted its stake in Canadian Solar by 825.6% during the 4th 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 in the last quarter. Barclays PLC boosted its stake in Canadian Solar by 494.4% during the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock valued at $1,932,000 after purchasing an additional 95,924 shares in the last quarter. Waterfront Wealth Inc. raised its stake in shares of Canadian Solar by 16.9% in the 4th quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider's stock worth $2,059,000 after buying an additional 26,778 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Canadian Solar in the 4th quarter worth $7,738,000. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Trading Up 3.9 %

Shares of NASDAQ:CSIQ traded up $0.28 during mid-day trading on Friday, hitting $7.46. The stock had a trading volume of 1,241,125 shares, compared to its average volume of 1,882,504. The company's 50 day moving average is $9.42 and its 200-day moving average is $11.33. Canadian Solar Inc. has a 12-month low of $6.57 and a 12-month high of $21.05. 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 company has a market cap of $493.55 million, a PE ratio of -62.17, a P/E/G ratio of 0.74 and a beta of 1.33.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share (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 quarter in the previous year, the company earned ($0.02) EPS. Canadian Solar's revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

CSIQ has been the topic of several research reports. StockNews.com cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 8th. 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. Finally, The Goldman Sachs Group decreased their price target on shares of Canadian Solar from $11.00 to $9.00 and set a "sell" rating on the stock in a research report on Wednesday, March 26th. Four 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.54.

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.