Lion Point Capital Lp buys $22,492,012 stake in Canadian Solar (CSIQ)

Canadian Solar (CSIQ) : Lion Point Capital Lp scooped up 1,390,085 additional shares in Canadian Solar during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,890,085 shares of Canadian Solar which is valued at $22,492,012.Canadian Solar makes up approximately 7.71% of Lion Point Capital Lp’s portfolio.

Other Hedge Funds, Including , Raymond James Financial Services Advisors reduced its stake in CSIQ by selling 4,232 shares or 25.81% in the most recent quarter. The Hedge Fund company now holds 12,164 shares of CSIQ which is valued at $144,752.Blackrock Institutional Trust Company N.a. reduced its stake in CSIQ by selling 53,074 shares or 82.38% in the most recent quarter. The Hedge Fund company now holds 11,353 shares of CSIQ which is valued at $144,864. Quantitative Investment Management added CSIQ to its portfolio by purchasing 54,600 company shares during the most recent quarter which is valued at $787,332. Canadian Solar makes up approx 0.03% of Quantitative Investment Management’s portfolio.Prescott Group Capital Management L.l.c. boosted its stake in CSIQ in the latest quarter, The investment management firm added 45,600 additional shares and now holds a total of 407,661 shares of Canadian Solar which is valued at $5,886,625. Canadian Solar makes up approx 1.33% of Prescott Group Capital Management L.l.c.’s portfolio.Dnb Asset Management As boosted its stake in CSIQ in the latest quarter, The investment management firm added 1,392,600 additional shares and now holds a total of 4,704,602 shares of Canadian Solar which is valued at $67,934,453. Canadian Solar makes up approx 1.35% of Dnb Asset Management As’s portfolio.

Canadian Solar opened for trading at $11.58 and hit $11.75 on the upside on Monday, eventually ending the session at $11.7, with a gain of 0.17% or 0.02 points. The heightened volatility saw the trading volume jump to 12,76,428 shares. Company has a market cap of $655 M.

On the company’s financial health, Canadian Solar reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 21, 2016. Analyst had a consensus of $0.26. The company had revenue of $657.30 million for the quarter, compared to analysts expectations of $685.28 million. The company’s revenue was down -22.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on Canadian Solar. Canadian Solar was Initiated by JMP Securities to “Mkt Perform” on Sep 8, 2016. Shares were Downgraded by Barclays on Aug 24, 2016 to ” Equal Weight” and Lowered the Price Target to $ 14 from a previous price target of $24 .Shares were Reiterated by FBR Capital on Aug 19, 2016 to “Outperform” and Lowered the Price Target to $ 23 from a previous price target of $32 .

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.

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