Canadian Solar (CSIQ) : Pear Tree Advisors Inc has sold out all of its stake in Canadian Solar during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 2,548 shares of Canadian Solar which is valued at $32,895.
Other Hedge Funds, Including , Pictet Asset Management Ltd reduced its stake in CSIQ by selling 148,937 shares or 13.86% in the most recent quarter. The Hedge Fund company now holds 925,817 shares of CSIQ which is valued at $11,952,297. Canadian Solar makes up approx 0.04% of Pictet Asset Management Ltd’s portfolio.Ruffer Llp boosted its stake in CSIQ in the latest quarter, The investment management firm added 401,678 additional shares and now holds a total of 1,061,914 shares of Canadian Solar which is valued at $13,900,454. Canadian Solar makes up approx 0.59% of Ruffer Llp’s portfolio. Cambridge Investment Research Advisors added CSIQ to its portfolio by purchasing 12,476 company shares during the most recent quarter which is valued at $181,775. Eqis Capital Management sold out all of its stake in CSIQ during the most recent quarter. The investment firm sold 36,349 shares of CSIQ which is valued $537,238.
Canadian Solar closed down -0.04 points or -0.30% at $13.09 with 9,49,847 shares getting traded on Monday. Post opening the session at $13.1, the shares hit an intraday low of $13.0401 and an intraday high of $13.29 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Canadian Solar reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.39. The company had revenue of $805.90 million for the quarter, compared to analysts expectations of $732.21 million. The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
Many Wall Street Analysts have commented on Canadian Solar. Shares were Downgraded by Barclays on Aug 24, 2016 to ” Equal Weight” and Lowered the Price Target to $ 14 from a previous price target of $24 .Shares were Reiterated by FBR Capital on Aug 19, 2016 to “Outperform” and Lowered the Price Target to $ 23 from a previous price target of $32 .Shares were Downgraded by Morgan Stanley on Aug 3, 2016 to ” Underweight” and Lowered the Price Target to $ 12.80 from a previous price target of $24 .
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.