Canadian Solar (CSIQ) : Quentec Asset Management scooped up 284,889 additional shares in Canadian Solar during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,025,265 shares of Canadian Solar which is valued at $13,236,171.Canadian Solar makes up approximately 2.93% of Quentec Asset Management’s portfolio.
Other Hedge Funds, Including , Luminus Management added CSIQ to its portfolio by purchasing 60,767 company shares during the most recent quarter which is valued at $784,502. Canadian Solar makes up approx 0.03% of Luminus Management’s portfolio. Quadrature Capital Ltd added CSIQ to its portfolio by purchasing 52,934 company shares during the most recent quarter which is valued at $683,378. Canadian Solar makes up approx 0.05% of Quadrature Capital Ltd’s portfolio. Columbus Circle Investors sold out all of its stake in CSIQ during the most recent quarter. The investment firm sold 824,761 shares of CSIQ which is valued $11,736,349.
Canadian Solar opened for trading at $12.95 and hit $13.18 on the upside on Thursday, eventually ending the session at $12.97, with a gain of 0.62% or 0.08 points. The heightened volatility saw the trading volume jump to 19,38,535 shares. Company has a market cap of $726 M.
On the company’s financial health, Canadian Solar reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.39. The company had revenue of $805.90 million for the quarter, compared to analysts expectations of $732.21 million. The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
Many Wall Street Analysts have commented on Canadian Solar. 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 .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.