Green Alpha Advisors LLC Buys New Shares in Canadian Solar Inc. $CSIQ

Green Alpha Advisors LLC acquired a new stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) in the second quarter, Holdings Channel.com reports. The firm acquired 38,370 shares of the solar energy provider’s stock, valued at approximately $615,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Canadian Solar during the 2nd quarter worth about $33,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Canadian Solar by 335.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock worth $42,000 after buying an additional 2,463 shares during the period. Optiver Holding B.V. bought a new position in shares of Canadian Solar during the first quarter valued at $44,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Canadian Solar during the 4th quarter worth about $48,000. Finally, Quarry LP acquired a new stake in shares of Canadian Solar during the 4th quarter worth about $54,000. 52.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Freedom Capital downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Citigroup upgraded shares of Canadian Solar from a “sell” rating to a “neutral” rating and increased their price objective for the company from $11.00 to $18.00 in a report on Wednesday, July 22nd. Wall Street Zen upgraded Canadian Solar from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Mizuho boosted 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. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Canadian Solar presently has an average rating of “Hold” and a consensus price target of $19.36.

Insider Transactions at Canadian Solar

In related 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 transaction of $34,368.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.50% of the company’s stock.

Canadian Solar Trading Down 1.2%

NASDAQ CSIQ opened at $14.55 on Friday. The firm has a market cap of $987.95 million, a P/E ratio of -5.77 and a beta of 1.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81. The stock’s 50-day moving average is $15.20 and its 200-day moving average is $16.29. Canadian Solar Inc. has a one year low of $9.41 and a one year high of $34.59.

About Canadian Solar

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.