Canadian Solar INC (CSIQ) Holder Prescott Group Capital Management LLC Has Trimmed Position

February 20, 2018 - By Winifred Garcia

Phil Frohlich decreased its stake in Canadian Solar Inc (CSIQ) by 36.31% based on its latest 2017Q3 regulatory filing with the SEC. Prescott Group Capital Management Llc sold 241,200 shares as the company’s stock declined 8.07% while stock markets rallied. The hedge fund run by Phil Frohlich held 423,141 shares of the semiconductors company at the end of 2017Q3, valued at $7.13 million, down from 664,341 at the end of the previous reported quarter. Prescott Group Capital Management Llc who had been investing in Canadian Solar Inc for a number of months, seems to be less bullish one the $913.55 million market cap company. The stock increased 0.13% or $0.02 during the last trading session, reaching $15.75. About 53,798 shares traded. Canadian Solar Inc. (NASDAQ:CSIQ) has declined 25.32% since February 20, 2017 and is downtrending. It has underperformed by 42.02% the S&P500.

Prescott Group Capital Management Llc, which manages about $576.56 million and $490.52 million US Long portfolio, upped its stake in Nci Building Sys Inc (NYSE:NCS) by 363,075 shares to 665,558 shares, valued at $10.38 million in 2017Q3, according to the filing.

Analysts await Canadian Solar Inc. (NASDAQ:CSIQ) to report earnings on March, 20. They expect $1.06 earnings per share, up 341.67 % or $0.82 from last year’s $0.24 per share. CSIQ’s profit will be $61.48M for 3.71 P/E if the $1.06 EPS becomes a reality. After $0.22 actual earnings per share reported by Canadian Solar Inc. for the previous quarter, Wall Street now forecasts 381.82 % EPS growth.

More notable recent Canadian Solar Inc. (NASDAQ:CSIQ) news were published by: Reuters.com which released: “BRIEF-Canadian Solar Announces Names Independent Financial Advisor And Legal …” on January 25, 2018, also Prnewswire.com with their article: “Canadian Solar Subsidiary Recurrent Energy Finalizes Sale of California Solar …” published on January 30, 2018, Fool.com published: “Is Canadian Solar a buy?” on January 23, 2018. More interesting news about Canadian Solar Inc. (NASDAQ:CSIQ) were released by: Theglobeandmail.com and their article: “Canadian solar companies challenge Trump’s tariffs in court” published on February 18, 2018 as well as Prnewswire.com‘s news article titled: “Canadian Solar Inc. Announces Appointment of Independent Financial Advisor and …” with publication date: January 25, 2018.

Canadian Solar Inc. (NASDAQ:CSIQ) Ratings Coverage

Among 17 analysts covering Canadian Solar Inc. (NASDAQ:CSIQ), 8 have Buy rating, 1 Sell and 8 Hold. Therefore 47% are positive. Canadian Solar Inc. had 42 analyst reports since August 19, 2015 according to SRatingsIntel. Cowen & Co maintained it with “Hold” rating and $1600 target in Monday, August 14 report. FBR Capital downgraded Canadian Solar Inc. (NASDAQ:CSIQ) on Tuesday, November 22 to “Mkt Perform” rating. Barclays Capital downgraded it to “Equal-Weight” rating and $14 target in Wednesday, August 24 report. The stock of Canadian Solar Inc. (NASDAQ:CSIQ) has “Sell” rating given on Tuesday, December 12 by J.P. Morgan. Cowen & Co downgraded the shares of CSIQ in report on Friday, August 19 to “Market Perform” rating. The rating was downgraded by Axiom Capital to “Hold” on Friday, December 15. The rating was initiated by Barclays Capital on Monday, April 4 with “Overweight”. The company was initiated on Thursday, September 24 by Stifel Nicolaus. As per Tuesday, June 6, the company rating was maintained by Roth Capital. OTR Global downgraded the stock to “Mixed” rating in Wednesday, January 27 report.

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