MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $8.07 Million Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 718,641 shares of the solar energy provider’s stock after selling 40,897 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.09% of Canadian Solar worth $8,065,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Canadian Solar by 184.0% in the fourth 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 last quarter. Sciencast Management LP acquired a new position in shares of Canadian Solar in the fourth quarter worth $113,000. Miracle Mile Advisors LLC acquired a new position in shares of Canadian Solar in the fourth quarter worth $133,000. Hsbc Holdings PLC acquired a new position in shares of Canadian Solar in the fourth quarter worth $177,000. Finally, Mariner LLC increased its stake in shares of Canadian Solar by 100.0% in the fourth quarter. Mariner LLC now owns 20,000 shares of the solar energy provider’s stock worth $222,000 after acquiring an additional 10,000 shares during the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSIQ. Wells Fargo & Company upped their price target on shares of Canadian Solar from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday. Roth Capital downgraded shares of Canadian Solar from a “buy” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Friday, April 25th. 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 report on Thursday, April 17th. The Goldman Sachs Group increased their target price on shares of Canadian Solar from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Friday. Finally, StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.86.

Canadian Solar Trading Up 1.5%

Shares of NASDAQ:CSIQ opened at $10.85 on Friday. The company has a market cap of $717.83 million, a P/E ratio of -90.42, a P/E/G ratio of 0.74 and a beta of 1.35. The stock’s 50-day moving average is $8.96 and its 200-day moving average is $10.63. Canadian Solar Inc. has a 52-week low of $6.57 and a 52-week high of $21.05. 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 issued its quarterly earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.50) by $0.43. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.11 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. Equities research analysts predict that Canadian Solar Inc. will post -0.23 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.