USCF Advisers LLC Grows Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

USCF Advisers LLC grew its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 66.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the solar energy provider’s stock after buying an additional 1,000 shares during the quarter. Canadian Solar accounts for approximately 2.8% of USCF Advisers LLC’s investment portfolio, making the stock its 3rd biggest holding. USCF Advisers LLC’s holdings in Canadian Solar were worth $28,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp increased its stake in shares of Canadian Solar by 25.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock worth $75,456,000 after purchasing an additional 1,037,800 shares during the last quarter. State Street Corp boosted its holdings in Canadian Solar by 5.6% in the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after buying an additional 25,901 shares during the period. Cerity Partners LLC grew its stake in Canadian Solar by 131.5% in the 3rd quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after buying an additional 243,542 shares in the last quarter. KBC Group NV raised its holdings in Canadian Solar by 36.2% during the 3rd quarter. KBC Group NV now owns 142,402 shares of the solar energy provider’s stock valued at $2,387,000 after acquiring an additional 37,850 shares during the period. Finally, Barclays PLC lifted its position in shares of 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 acquiring an additional 95,924 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CSIQ shares. Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Mizuho assumed coverage on shares of Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, The Goldman Sachs Group lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.31.

Canadian Solar Price Performance

CSIQ stock opened at $11.34 on Thursday. The firm has a market cap of $750.25 million, a P/E ratio of -94.50, a P/E/G ratio of 8.83 and a beta of 1.29. The firm’s fifty day moving average is $12.00 and its 200 day moving average is $13.62. Canadian Solar Inc. has a 52 week low of $10.60 and a 52 week high of $25.43. 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) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. Research analysts predict that Canadian Solar Inc. will post 0.06 earnings per share for the current year.

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.