DNB Asset Management AS disclosed that they own a 5.9% stake in Canadian Solar Inc. (NASDAQ:CSIQ) in a Form 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, January 19th. The investor owns 3,270,866 shares of the stock worth approximately $65,286,485. The disclosure is available through EDGAR at this link.

Separately, Beacon Financial Group raised its position in Canadian Solar by 2.1% in the fourth quarter. Beacon Financial Group now owns 16,093 shares of the company’s stock worth $460,000 after buying an additional 334 shares during the period.

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) opened at 19.96 on Monday. The stock has a market capitalization of $1.12 billion and a P/E ratio of 6.31. The stock has a 50 day moving average price of $24.68 and a 200 day moving average price of $22.48. Canadian Solar Inc. has a one year low of $14.16 and a one year high of $40.08.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Tuesday, November 10th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.51. The business had revenue of $849.80 million for the quarter, compared to analyst estimates of $616.09 million. During the same quarter last year, the business earned $1.75 earnings per share. Canadian Solar’s revenue was down 7.1% on a year-over-year basis. Equities analysts forecast that Canadian Solar Inc. will post $2.54 earnings per share for the current year.

CSIQ has been the subject of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Canadian Solar in a research note on Friday, October 9th. Cowen and Company reiterated an “outperform” rating and issued a $28.50 target price on shares of Canadian Solar in a research report on Monday, October 26th. Canaccord Genuity reiterated a “buy” rating and issued a $29.00 target price (down from $40.00) on shares of Canadian Solar in a research report on Tuesday, October 27th. Vetr downgraded Canadian Solar from a “strong-buy” rating to a “buy” rating and set a $25.00 target price on the stock. in a research report on Monday, November 2nd. Finally, Morgan Stanley started coverage on Canadian Solar in a research report on Tuesday, November 10th. They issued an “overweight” rating and a $30.50 target price on the stock. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Canadian Solar currently has a consensus rating of “Buy” and a consensus target price of $33.02.

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.

12 Month Chart for NASDAQ:CSIQ

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