Skandinaviska Enskilda Banken AB publ Trims Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Skandinaviska Enskilda Banken AB publ decreased its stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 30.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,243 shares of the solar energy provider's stock after selling 73,609 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.25% of Canadian Solar worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Shah Capital Management increased its stake in shares of Canadian Solar by 825.6% in 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 buying an additional 1,556,964 shares during the period. Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in Canadian Solar during the fourth quarter worth approximately $7,738,000. State Street Corp grew its stake in Canadian Solar by 5.6% during the third quarter. State Street Corp now owns 486,800 shares of the solar energy provider's stock worth $8,159,000 after purchasing an additional 25,901 shares during the period. Cerity Partners LLC grew its stake in Canadian Solar by 131.5% during the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider's stock worth $7,186,000 after purchasing an additional 243,542 shares during the period. Finally, Waterfront Wealth Inc. grew 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 purchasing an additional 26,778 shares during the period. Institutional investors and hedge funds own 52.36% of the company's stock.

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Canadian Solar Stock Performance

Shares of CSIQ traded down $0.38 on Thursday, reaching $10.15. 1,340,333 shares of the company's stock traded hands, compared to its average volume of 1,816,290. 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 stock has a market cap of $671.51 million, a PE ratio of -84.58, a PEG ratio of 0.74 and a beta of 1.34. The stock's 50 day simple moving average is $10.53 and its two-hundred day simple moving average is $12.17. Canadian Solar Inc. has a 52-week low of $9.19 and a 52-week high of $21.05.

Analysts Set New Price Targets

Several equities research analysts recently commented on CSIQ shares. The Goldman Sachs Group cut Canadian Solar from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $14.00 to $11.00 in a research note on Tuesday, December 17th. Jefferies Financial Group began coverage on Canadian Solar in a research note on Friday, November 22nd. They set a "buy" rating and a $14.15 target price for the company. Wells Fargo & Company cut their price target on Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Finally, Mizuho began coverage on Canadian Solar in a report on Friday, December 13th. They issued an "outperform" rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.04.

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.