Canadian Solar Inc. (NASDAQ:CSIQ) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 34.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,892 shares of the solar energy provider’s stock after selling 3,695 shares during the period. Advisors Asset Management Inc.’s holdings in Canadian Solar were worth $116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Canadian Solar in the 2nd quarter valued at about $31,000. Private Advisor Group LLC purchased a new position in Canadian Solar in the third quarter valued at approximately $219,000. Northwestern Mutual Wealth Management Co. lifted its position in Canadian Solar by 43.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock valued at $232,000 after buying an additional 4,739 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in Canadian Solar by 27.6% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock worth $257,000 after buying an additional 3,768 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Canadian Solar by 8.0% in the second quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock worth $276,000 after acquiring an additional 1,383 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CSIQ shares. Oppenheimer lowered their price target on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 23rd. Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and lowered their target price for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. Jefferies Financial Group began coverage on Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 price target on the stock. The Goldman Sachs Group lowered their price objective on shares of Canadian Solar from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Finally, Roth Mkm decreased their target price on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.94.

Canadian Solar Trading Down 2.7 %

CSIQ opened at $12.41 on Friday. Canadian Solar Inc. has a 12-month low of $10.91 and a 12-month high of $26.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.82. The stock has a market capitalization of $821.05 million, a PE ratio of 25.29, a P/E/G ratio of 2.26 and a beta of 1.34. The firm’s fifty day moving average price is $13.63 and its 200 day moving average price is $14.88.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.