Sciencast Management LP Invests $113,000 in Canadian Solar Inc. (NASDAQ:CSIQ)

Sciencast Management LP acquired a new position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) during the fourth quarter, HoldingsChannel reports. The fund acquired 10,163 shares of the solar energy provider’s stock, valued at approximately $113,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. USCF Advisers LLC boosted its holdings in Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock worth $28,000 after buying an additional 1,000 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Canadian Solar by 20.3% during the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after buying an additional 1,500 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Canadian Solar by 1.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider’s stock worth $1,847,000 after buying an additional 1,522 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Canadian Solar by 37.1% during the third quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider’s stock worth $520,000 after buying an additional 8,404 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in Canadian Solar during the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $9.96 on Monday. The firm has a 50 day simple moving average of $10.43 and a 200-day simple moving average of $12.13. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The firm has a market cap of $658.94 million, a PE ratio of -83.00, a P/E/G ratio of 0.74 and a beta of 1.34. Canadian Solar Inc. has a 1-year low of $9.19 and a 1-year high of $21.05.

Analyst Ratings Changes

CSIQ has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. The Goldman Sachs Group downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $14.00 to $11.00 in a report on Tuesday, December 17th. Mizuho assumed coverage on shares of Canadian Solar in a report on Friday, December 13th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.04.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.