Hussman Strategic Advisors Inc. Sells 84,000 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Hussman Strategic Advisors Inc. lessened its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 57.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,000 shares of the solar energy provider’s stock after selling 84,000 shares during the period. Hussman Strategic Advisors Inc. owned approximately 0.10% of Canadian Solar worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC purchased a new position in Canadian Solar in the 3rd quarter worth approximately $219,000. Summit Place Financial Advisors LLC grew its stake in Canadian Solar by 60.0% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 59,223 shares of the solar energy provider’s stock worth $993,000 after buying an additional 22,200 shares in the last quarter. KBC Group NV grew its stake in Canadian Solar by 36.2% in the 3rd quarter. KBC Group NV now owns 142,402 shares of the solar energy provider’s stock worth $2,387,000 after buying an additional 37,850 shares in the last quarter. Prospera Financial Services Inc purchased a new position in Canadian Solar in the 3rd quarter worth approximately $333,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Canadian Solar by 101.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,461 shares of the solar energy provider’s stock worth $1,902,000 after buying an additional 57,246 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Up 2.7 %

Shares of NASDAQ CSIQ opened at $11.35 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Canadian Solar Inc. has a 12 month low of $9.56 and a 12 month high of $22.59. The firm has a market capitalization of $750.92 million, a PE ratio of -94.58, a price-to-earnings-growth ratio of 0.71 and a beta of 1.26. The firm has a fifty day simple moving average of $11.12 and a two-hundred day simple moving average of $12.64.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. Equities analysts expect that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

CSIQ has been the subject of a number of research reports. StockNews.com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Jefferies Financial Group initiated coverage on shares of Canadian Solar in a research note on Friday, November 22nd. They issued a “buy” rating and a $14.15 price objective for the company. The Goldman Sachs Group cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and cut their price objective for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Mizuho initiated coverage on shares of Canadian Solar in a research note on Friday, December 13th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective 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. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.31.

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.