Globeflex Capital L P buys $10,745,220 stake in Canadian Solar (CSIQ)

Canadian Solar (CSIQ) : Globeflex Capital L P scooped up 77,400 additional shares in Canadian Solar during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 675,800 shares of Canadian Solar which is valued at $10,745,220.Canadian Solar makes up approximately 2.94% of Globeflex Capital L P’s portfolio.

Other Hedge Funds, Including , Columbus Circle Investors boosted its stake in CSIQ in the latest quarter, The investment management firm added 281,967 additional shares and now holds a total of 824,761 shares of Canadian Solar which is valued at $13,113,700. Canadian Solar makes up approx 0.12% of Columbus Circle Investors’s portfolio.Capital Fund Management S.a. boosted its stake in CSIQ in the latest quarter, The investment management firm added 140,329 additional shares and now holds a total of 156,429 shares of Canadian Solar which is valued at $2,487,221. Canadian Solar makes up approx 0.04% of Capital Fund Management S.a.’s portfolio.Quantbot Technologies Lp boosted its stake in CSIQ in the latest quarter, The investment management firm added 2,681 additional shares and now holds a total of 14,791 shares of Canadian Solar which is valued at $264,907. Canadian Solar makes up approx 0.04% of Quantbot Technologies Lp’s portfolio. Punch Associates Investment Management sold out all of its stake in CSIQ during the most recent quarter. The investment firm sold 35 shares of CSIQ which is valued $627.Quantitative Systematic Strategies boosted its stake in CSIQ in the latest quarter, The investment management firm added 7,808 additional shares and now holds a total of 19,986 shares of Canadian Solar which is valued at $380,533. Canadian Solar makes up approx 0.14% of Quantitative Systematic Strategies’s portfolio.

Canadian Solar (CSIQ) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $15.1 and reached the intraday high at $15.62. The bulls started the profit booking and pushed the shares to intraday low of $15.02. The trading session was marked by a volume range of 35,45,570 shares exchanging hands. The 52-week high of the shares is $40.08 and the 52-week low is $14.16. The market cap of the company stands at $865 M and there are 5,59,65,443 shares in public circulation.

On the company’s financial health, Canadian Solar reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on May 11, 2016. Analyst had a consensus of $0.18. The company had revenue of $721.40 million for the quarter, compared to analysts expectations of $662.89 million. The company’s revenue was down -16.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Canadian Solar. Barclays Initiated Canadian Solar on Apr 4, 2016 to “Overweight”, Price Target of the shares are set at $24.Canadian Solar was Initiated by Northland Capital to “Outperform” on Mar 16, 2016. Shares were Reiterated by Stifel on Mar 11, 2016 to “Buy” and Lowered the Price Target to $ 28 from a previous price target of $31 .

Canadian Solar Inc. is a solar power company which designs develops and manufactures solar wafers solar cells and solar power products. The Company’s solar power products include standard solar modules and specialty solar products. It has two segments: module segment and energy segment. The Company’s module segment primarily involves design development manufacture and sales of solar power products and solar system kits. The Company’s energy segment involves solar power project development engineering procurement and construction services operations and maintenance services and electricity revenue generation. Its products include a range of solar modules for use in residential commercial and industrial solar power generation systems. Its specialty solar products consist of solar modules that the customers incorporate into their own products and complete specialty products such as portable solar home systems. The Company sells its products under Canadian Solar brand name.

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