Canadian Solar Inc. (NASDAQ:CSIQ) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 30.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 167,243 shares of the solar energy provider’s stock after selling 73,609 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian Solar were worth $1,878,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Shah Capital Management lifted its stake in Canadian Solar by 825.6% during the fourth quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock worth $19,410,000 after purchasing an additional 1,556,964 shares during the last quarter. Barclays PLC lifted its stake in Canadian Solar by 494.4% during the third quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock worth $1,932,000 after purchasing an additional 95,924 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Canadian Solar by 101.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,461 shares of the solar energy provider’s stock worth $1,902,000 after purchasing an additional 57,246 shares during the last quarter. Waterfront Wealth Inc. lifted 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 last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in Canadian Solar during the fourth quarter worth $7,738,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Analyst Ratings Changes

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

Canadian Solar Price Performance

Shares of CSIQ opened at $9.43 on Monday. The firm has a market capitalization of $623.88 million, a price-to-earnings ratio of -78.58, a price-to-earnings-growth ratio of 0.74 and a beta of 1.34. 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 Inc. has a one year low of $9.19 and a one year high of $21.05. The stock’s fifty day moving average is $10.69 and its 200-day moving average is $12.22.

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.