California Public Employees Retirement System Increases Position in Canadian Solar Inc. (CSIQ)

California Public Employees Retirement System lifted its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 9.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 156,500 shares of the solar energy provider’s stock after purchasing an additional 12,900 shares during the period. California Public Employees Retirement System owned 0.27% of Canadian Solar worth $2,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSIQ. Calamos Advisors LLC purchased a new stake in shares of Canadian Solar in the second quarter valued at approximately $4,474,000. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Canadian Solar in the second quarter valued at approximately $3,662,000. Quantitative Investment Management LLC purchased a new stake in shares of Canadian Solar in the second quarter valued at approximately $2,803,000. Cipher Capital LP boosted its holdings in shares of Canadian Solar by 214.7% in the second quarter. Cipher Capital LP now owns 97,581 shares of the solar energy provider’s stock valued at $1,553,000 after purchasing an additional 66,571 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Canadian Solar by 10.2% in the first quarter. Bank of America Corp DE now owns 492,227 shares of the solar energy provider’s stock valued at $6,040,000 after purchasing an additional 45,650 shares during the period. Hedge funds and other institutional investors own 39.51% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “California Public Employees Retirement System Increases Position in Canadian Solar Inc. (CSIQ)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://www.com-unik.info/2017/10/31/california-public-employees-retirement-system-increases-position-in-canadian-solar-inc-csiq.html.

Canadian Solar Inc. (NASDAQ:CSIQ) opened at 17.42 on Tuesday. The stock’s 50 day moving average price is $16.41 and its 200-day moving average price is $15.24. The firm has a market capitalization of $1.01 billion, a P/E ratio of 41.28 and a beta of 3.15. Canadian Solar Inc. has a 12 month low of $10.25 and a 12 month high of $18.12.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The business had revenue of $692.37 million during the quarter, compared to analysts’ expectations of $631.05 million. Canadian Solar had a net margin of 1.01% and a return on equity of 1.71%. The company’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Equities analysts forecast that Canadian Solar Inc. will post $1.62 earnings per share for the current year.

A number of research firms have weighed in on CSIQ. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Cowen and Company restated a “hold” rating and set a $17.00 target price on shares of Canadian Solar in a report on Sunday, October 22nd. Axiom Securities restated a “buy” rating on shares of Canadian Solar in a report on Saturday, August 26th. Barclays PLC lowered Canadian Solar from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $12.00 to $14.00 in a report on Monday, August 21st. Finally, BidaskClub lowered Canadian Solar from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Canadian Solar presently has an average rating of “Hold” and a consensus price target of $17.51.

Canadian Solar Profile

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

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

What are top analysts saying about Canadian Solar Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Canadian Solar Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit