Jupiter Topco LLC Invests $6.33 Million in Canadian Solar Inc. $CSIQ

Jupiter Topco LLC purchased a new position in Canadian Solar Inc. (NASDAQ:CSIQ) in the second quarter, HoldingsChannel reports. The fund purchased 53,005 shares of the solar energy provider’s stock, valued at approximately $6,331,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in Canadian Solar during the 2nd quarter valued at $96,000. Jones Financial Companies Lllp bought a new stake in shares of Canadian Solar in the 2nd quarter worth about $100,000. Danske Bank A S bought a new stake in shares of Canadian Solar in the 2nd quarter worth about $100,000. EFG International AG acquired a new stake in shares of Canadian Solar in the 2nd quarter valued at about $161,000. Finally, Kelleher Financial Advisors bought a new position in shares of Canadian Solar during the second quarter worth about $186,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Roth Capital set a $15.00 price target on Canadian Solar in a research note on Friday. Glj Research restated a “sell” rating and set a $5.58 price objective on shares of Canadian Solar in a research note on Thursday, August 27th. Weiss Ratings downgraded Canadian Solar from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Freedom Capital downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Wells Fargo & Company lowered their price target on Canadian Solar from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Canadian Solar has an average rating of “Reduce” and an average target price of $17.75.

Canadian Solar Trading Down 6.2%

Canadian Solar stock opened at $12.33 on Tuesday. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59. The firm’s 50-day moving average is $14.88 and its 200-day moving average is $15.98. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.78 and a current ratio of 1.02. The company has a market cap of $837.21 million, a P/E ratio of -3.21 and a beta of 1.52.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 27th. The solar energy provider reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.22). Canadian Solar had a negative net margin of 3.73% and a negative return on equity of 5.57%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company earned ($0.53) EPS. Canadian Solar’s quarterly revenue was down 28.7% on a year-over-year basis. On average, equities analysts expect that Canadian Solar Inc. will post -2.51 earnings per share for the current year.

Canadian Solar Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.