The Canadian Solar Inc. (CSIQ) Shares Sold by Ruffer LLP, Report finds

The Canadian Solar Inc. (CSIQ) Shares Sold by Ruffer LLP, Report finds

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSIQ. Quentec Asset Management LLC raised its position in shares of Canadian Solar by 55.9% in the third quarter. Quentec Asset Management LLC now owns 1,598,228 shares of the company’s stock worth $21,960,000 after buying an additional 572,963 shares in the last quarter. DnB Asset Management AS raised its position in shares of Canadian Solar by 42.0% in the third quarter. DnB Asset Management AS now owns 4,704,602 shares of the company’s stock worth $64,236,000 after buying an additional 1,392,600 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in shares of Canadian Solar by 12.6% in the third quarter. Prescott Group Capital Management L.L.C. now owns 407,661 shares of the company’s stock worth $5,601,000 after buying an additional 45,600 shares in the last quarter. Tradition Capital Management LLC raised its position in shares of Canadian Solar by 122.8% in the second quarter. Tradition Capital Management LLC now owns 58,225 shares of the company’s stock worth $880,000 after buying an additional 32,090 shares in the last quarter. Finally, Shelton Capital Management raised its position in shares of Canadian Solar by 55.7% in the second quarter. Shelton Capital Management now owns 97,800 shares of the company’s stock worth $1,479,000 after buying an additional 35,000 shares in the last quarter. 37.11% of the stock is owned by hedge funds and other institutional investors.

Ruffer LLP lowered its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 955,843 shares of the company’s stock after selling 87,432 shares during the period. Canadian Solar comprises approximately 0.7% of Ruffer LLP’s investment portfolio, making the stock its 20th largest position. Ruffer LLP owned about 1.65% of Canadian Solar worth $11,714,000 as of its most recent SEC filing.

Canadian Solar Inc. (NASDAQ:CSIQ) traded up 0.59% during mid-day trading on Thursday, hitting $12.02. 1,051,526 shares of the stock traded hands. The stock has a market capitalization of $694.49 million, a PE ratio of 5.01 and a beta of 2.78. The company has a 50 day moving average price of $12.40 and a 200-day moving average price of $13.05. Canadian Solar Inc. has a one year low of $10.25 and a one year high of $23.56.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Canadian Solar had a net margin of 4.26% and a return on equity of 15.60%. The business earned $657.30 million during the quarter, compared to analysts’ expectations of $685.28 million. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s revenue was down 22.7% on a year-over-year basis. Equities analysts anticipate that Canadian Solar Inc. will post $1.65 earnings per share for the current fiscal year.

A number of research analysts have recently commented on CSIQ shares. Zacks Investment Research lowered shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, November 3rd. Vetr cut shares of Canadian Solar from a “hold” rating to a “sell” rating and set a $14.54 target price on the stock. in a research note on Thursday, October 13th. Guggenheim began coverage on shares of Canadian Solar in a research note on Thursday, December 15th. They issued a “neutral” rating on the stock. JMP Securities reissued a “hold” rating on shares of Canadian Solar in a research note on Tuesday, November 22nd. Finally, Roth Capital reissued a “neutral” rating and issued a $11.00 target price (down previously from $20.00) on shares of Canadian Solar in a research note on Tuesday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.15.

Canadian Solar Company Profile

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

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