TD Waterhouse Canada Inc. Sells 12,844 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

TD Waterhouse Canada Inc. decreased its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 33.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,044 shares of the solar energy provider’s stock after selling 12,844 shares during the period. TD Waterhouse Canada Inc.’s holdings in Canadian Solar were worth $278,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. USCF Advisers LLC increased its position in shares of Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 1,000 shares during the period. Wells Fargo & Company MN increased its holdings in Canadian Solar by 184.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after acquiring an additional 3,347 shares during the period. Sciencast Management LP bought a new stake in Canadian Solar during the 4th quarter worth approximately $113,000. Miracle Mile Advisors LLC purchased a new stake in Canadian Solar in the 4th quarter worth approximately $133,000. Finally, Mariner LLC boosted its holdings in Canadian Solar by 100.0% in the 4th quarter. Mariner LLC now owns 20,000 shares of the solar energy provider’s stock valued at $222,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Performance

Canadian Solar stock opened at $11.15 on Friday. The firm has a fifty day simple moving average of $9.20 and a two-hundred day simple moving average of $10.99. Canadian Solar Inc. has a twelve month low of $6.57 and a twelve month high of $21.05. The company has a market capitalization of $737.67 million, a PE ratio of -92.92, a P/E/G ratio of 0.74 and a beta of 1.33. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. Research analysts expect that Canadian Solar Inc. will post -0.23 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. The Goldman Sachs Group lowered their price target on Canadian Solar from $11.00 to $9.00 and set a “sell” rating on the stock in a report on Wednesday, March 26th. Roth Capital lowered Canadian Solar from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a report on Friday. Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 target price on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company cut their price target on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Four analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.77.

About Canadian Solar

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.