Canadian Solar Inc. (NASDAQ:CSIQ) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 20.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,900 shares of the solar energy provider’s stock after purchasing an additional 1,500 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Canadian Solar were worth $149,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several brokerages recently commented on CSIQ. Oppenheimer dropped their price target on shares of Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 23rd. Citigroup downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and decreased their price objective for the stock 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 issued a “buy” rating and a $14.15 price objective 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 dropped their price target on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Canadian Solar currently has a consensus rating of “Hold” and an average price target of $19.94.

Canadian Solar Trading Down 2.7 %

Canadian Solar stock opened at $12.41 on Monday. The business’s 50-day simple moving average is $13.60 and its 200-day simple moving average is $14.84. Canadian Solar Inc. has a 52 week low of $10.91 and a 52 week high of $26.85. The firm has a market capitalization of $821.03 million, a PE ratio of 24.33, a PEG ratio of 2.20 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.04.

About Canadian Solar

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.