Robotti Robert Buys 173,499 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Robotti Robert boosted its stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 55.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487,880 shares of the solar energy provider's stock after buying an additional 173,499 shares during the quarter. Canadian Solar makes up about 1.0% of Robotti Robert's holdings, making the stock its 24th biggest position. Robotti Robert owned approximately 0.74% of Canadian Solar worth $5,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. USCF Advisers LLC raised its holdings in shares of Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of Canadian Solar during the 4th quarter worth about $113,000. Miracle Mile Advisors LLC acquired a new stake in shares of Canadian Solar during the 4th quarter valued at about $133,000. Daiwa Securities Group Inc. grew its stake in shares of Canadian Solar by 20.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider's stock valued at $149,000 after buying an additional 1,500 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 valued at $466,000 after buying an additional 8,505 shares in the last quarter. Institutional investors and hedge funds own 52.36% of the company's stock.

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Canadian Solar Stock Performance

Shares of Canadian Solar stock traded down $0.36 during midday trading on Friday, hitting $9.23. The company had a trading volume of 1,878,199 shares, compared to its average volume of 1,851,608. The stock has a market cap of $610.65 million, a PE ratio of -76.92, a P/E/G ratio of 0.74 and a beta of 1.34. Canadian Solar Inc. has a 1-year low of $9.13 and a 1-year high of $21.05. The business's 50 day simple moving average is $10.26 and its two-hundred day simple moving average is $12.04. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the company posted ($0.02) EPS. The firm's quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company decreased 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 research report on Wednesday, January 8th. The Goldman Sachs Group cut 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. Citigroup decreased their price target on Canadian Solar from $12.00 to $11.00 and set a "sell" rating for the company in a research note on Wednesday. Mizuho started coverage on Canadian Solar in a research note on Friday, December 13th. They issued an "outperform" rating and a $20.00 price objective on the stock. Finally, StockNews.com cut Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Solar currently has a consensus rating of "Hold" and a consensus price target of $17.84.

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.