Canadian Solar Inc. (NASDAQ:CSIQ) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQFree Report) by 19.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,000 shares of the solar energy provider’s stock after selling 740 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Canadian Solar were worth $79,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quarry LP grew its stake in Canadian Solar by 1,268.6% during the first quarter. Quarry LP now owns 958 shares of the solar energy provider’s stock worth $38,000 after buying an additional 888 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Canadian Solar by 115.7% in the first quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the solar energy provider’s stock valued at $41,000 after purchasing an additional 589 shares during the period. State of Tennessee Treasury Department purchased a new position in shares of Canadian Solar in the second quarter valued at $54,000. Adirondack Trust Co. boosted its stake in shares of Canadian Solar by 200.0% in the third quarter. Adirondack Trust Co. now owns 1,500 shares of the solar energy provider’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. Finally, Castleview Partners LLC purchased a new position in shares of Canadian Solar in the first quarter valued at $64,000. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Stock Down 3.9 %

CSIQ stock opened at $14.53 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Canadian Solar Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $45.29. The firm’s 50-day simple moving average is $19.70 and its 200 day simple moving average is $21.41. The stock has a market cap of $937.33 million, a PE ratio of 3.74, a price-to-earnings-growth ratio of 0.23 and a beta of 1.26.

Canadian Solar (NASDAQ:CSIQGet Free Report) last released its quarterly earnings data on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company earned $1.11 EPS. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, sell-side analysts predict that Canadian Solar Inc. will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSIQ. The Goldman Sachs Group decreased their target price on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Wells Fargo & Company cut their price target on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 19th. Citigroup cut their price target on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Daiwa Capital Markets assumed coverage on shares of Canadian Solar in a report on Monday, March 11th. They issued a “neutral” rating and a $21.00 price target on the stock. Finally, StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.78.

Read Our Latest Analysis on CSIQ

About Canadian Solar

(Free Report)

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.

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Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

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