Canadian Solar (CSIQ) : Oceanic Investment Management Ltd scooped up 172,800 additional shares in Canadian Solar during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 622,168 shares of Canadian Solar which is valued at $8,853,451.Canadian Solar makes up approximately 4.45% of Oceanic Investment Management Ltd’s portfolio.
Other Hedge Funds, Including , Exane Derivatives added CSIQ to its portfolio by purchasing 1,400 company shares during the most recent quarter which is valued at $19,922. Quantitative Investment Management sold out all of its stake in CSIQ during the most recent quarter. The investment firm sold 63,700 shares of CSIQ which is valued $906,451.Guinness Atkinson Asset Management Inc boosted its stake in CSIQ in the latest quarter, The investment management firm added 8,700 additional shares and now holds a total of 27,100 shares of Canadian Solar which is valued at $403,248. Canadian Solar makes up approx 0.24% of Guinness Atkinson Asset Management Inc’s portfolio.Creative Planning reduced its stake in CSIQ by selling 90 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 5,561 shares of CSIQ which is valued at $84,750. Capital Asset Advisory Services sold out all of its stake in CSIQ during the most recent quarter. The investment firm sold 37,025 shares of CSIQ which is valued $564,261.
Canadian Solar opened for trading at $14.58 and hit $14.91 on the upside on Monday, eventually ending the session at $14.66, with a gain of 0.62% or 0.09 points. The heightened volatility saw the trading volume jump to 12,04,021 shares. Company has a market cap of $820 M.
On the company’s financial health, Canadian Solar reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on May 11, 2016. Analyst had a consensus of $0.18. The company had revenue of $721.40 million for the quarter, compared to analysts expectations of $662.89 million. The company’s revenue was down -16.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.
Many Wall Street Analysts have commented on Canadian Solar. 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.