Vontobel Holding Ltd. Sells 73,464 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Vontobel Holding Ltd. reduced its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 73.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,087 shares of the solar energy provider's stock after selling 73,464 shares during the quarter. Vontobel Holding Ltd.'s holdings in Canadian Solar were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. USCF Advisers LLC raised its stake in shares of Canadian Solar by 66.7% in the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Canadian Solar in the fourth quarter worth approximately $133,000. Daiwa Securities Group Inc. raised its stake in shares of Canadian Solar by 20.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider's stock worth $149,000 after purchasing an additional 1,500 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Canadian Solar in the third quarter worth approximately $219,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Canadian Solar in the third quarter worth approximately $333,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Stock Performance

NASDAQ CSIQ traded down $0.07 on Friday, hitting $11.28. 1,916,317 shares of the stock traded hands, compared to its average volume of 1,547,568. The business's fifty day moving average is $11.12 and its two-hundred day moving average is $12.64. Canadian Solar Inc. has a 12 month low of $9.56 and a 12 month high of $22.48. The firm has a market capitalization of $746.27 million, a price-to-earnings ratio of -94.00, a PEG ratio of 0.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company earned $0.32 earnings per share. Canadian Solar's revenue was down 18.4% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on CSIQ shares. The Goldman Sachs Group downgraded Canadian Solar from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $14.00 to $11.00 in a research note on Tuesday, December 17th. Jefferies Financial Group assumed coverage on Canadian Solar in a report on Friday, November 22nd. They issued a "buy" rating and a $14.15 target price for the company. Wells Fargo & Company reduced their target price on Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating for the company 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 assumed 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. Five analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $18.31.

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.