National Bank of Canada FI increased its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ – Get Rating) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,818 shares of the solar energy provider’s stock after purchasing an additional 8,875 shares during the quarter. National Bank of Canada FI owned 0.06% of Canadian Solar worth $1,229,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of CSIQ. FinTrust Capital Advisors LLC acquired a new position in Canadian Solar during the first quarter worth about $40,000. Gordian Capital Singapore Pte Ltd acquired a new position in Canadian Solar during the fourth quarter worth about $72,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Canadian Solar by 26.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,421 shares of the solar energy provider’s stock worth $120,000 after acquiring an additional 719 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in Canadian Solar during the fourth quarter worth about $132,000. Finally, Daiwa Securities Group Inc. raised its stake in Canadian Solar by 91.3% during the first quarter. Daiwa Securities Group Inc. now owns 4,400 shares of the solar energy provider’s stock worth $156,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors own 46.97% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. upped their price objective on Canadian Solar from $36.00 to $38.00 in a research note on Wednesday, July 20th.
Canadian Solar Stock Performance
Canadian Solar stock opened at $38.68 on Friday. The business has a 50 day moving average of $32.29 and a 200-day moving average of $31.02. Canadian Solar Inc. has a 1 year low of $22.15 and a 1 year high of $43.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.20 and a quick ratio of 0.85. The company has a market capitalization of $2.32 billion, a P/E ratio of 31.44 and a beta of 1.43.
Canadian Solar (NASDAQ:CSIQ – Get Rating) last released its quarterly earnings data on Tuesday, May 24th. The solar energy provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.19. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Canadian Solar had a return on equity of 2.86% and a net margin of 1.50%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities research analysts predict that Canadian Solar Inc. will post 3.06 earnings per share for the current year.
Canadian Solar Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.
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