Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Canadian Solar Inc. (NASDAQ:CSIQ – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 52,713 shares of the solar energy provider’s stock, valued at approximately $844,000.
Several other institutional investors have also recently made changes to their positions in CSIQ. Goldman Sachs Group Inc. boosted its position in shares of Canadian Solar by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock worth $4,748,000 after purchasing an additional 92,002 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Canadian Solar by 141.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock valued at $100,000 after buying an additional 5,338 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Canadian Solar by 20.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock valued at $9,539,000 after buying an additional 145,867 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Canadian Solar in the 2nd quarter valued at about $33,000. Finally, Balyasny Asset Management L.P. acquired a new position in Canadian Solar during the 2nd quarter worth approximately $790,000. Institutional investors and hedge funds own 52.36% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on CSIQ shares. Mizuho increased their price target on Canadian Solar from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, June 15th. Freedom Capital downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Wall Street Zen raised Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Citigroup upgraded Canadian Solar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $11.00 to $18.00 in a report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.36.
Insider Activity at Canadian Solar
In other news, Director Leslie Li Hsien Chang sold 1,767 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total value of $34,368.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.50% of the stock is currently owned by company insiders.
Canadian Solar Trading Down 1.2%
NASDAQ:CSIQ opened at $14.55 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81. Canadian Solar Inc. has a one year low of $9.41 and a one year high of $34.59. The company has a market cap of $987.95 million, a PE ratio of -5.77 and a beta of 1.52. The firm has a 50-day moving average of $15.20 and a 200-day moving average of $16.29.
Canadian Solar Company 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.
Featured Articles
- Five stocks we like better than Canadian Solar
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding CSIQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Solar Inc. (NASDAQ:CSIQ – Free Report).
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.
