GSA Capital Partners LLP Invests $721,000 in Canadian Solar Inc. $CSIQ

GSA Capital Partners LLP bought a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) during the second quarter, HoldingsChannel reports. The firm bought 44,981 shares of the solar energy provider’s stock, valued at approximately $721,000.

Several other large investors have also modified their holdings of CSIQ. Bridgewater Advisors Inc. acquired a new position in Canadian Solar in the second quarter worth about $213,000. China Universal Asset Management Co. Ltd. bought a new stake in Canadian Solar in the fourth quarter valued at about $48,000. Quarry LP acquired a new stake in Canadian Solar during the fourth quarter valued at approximately $54,000. Taikang Asset Management Hong Kong Co Ltd acquired a new stake in Canadian Solar during the fourth quarter valued at approximately $69,000. Finally, Raymond James Financial Inc. bought a new position in Canadian Solar during the 2nd quarter worth approximately $33,000. Institutional investors own 52.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho lifted their target price on Canadian Solar from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, June 15th. Wall Street Zen raised Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Freedom Capital cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $11.00 to $18.00 in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Canadian Solar has an average rating of “Hold” and an average price target of $19.36.

Insider Activity

In other news, Director Leslie Li Hsien Chang sold 1,767 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total value of $34,368.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 21.50% of the company’s stock.

Canadian Solar Stock Up 7.1%

Canadian Solar stock opened at $15.78 on Thursday. Canadian Solar Inc. has a 52 week low of $9.41 and a 52 week high of $34.59. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -6.26 and a beta of 1.52. The company’s 50-day moving average price is $15.26 and its two-hundred day moving average price is $16.33. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.

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.