OMERS ADMINISTRATION Corp Acquires Shares of 211,564 Canadian Solar Inc. $CSIQ

Key Points

• OMERS Administration Corp acquired 211,564 Canadian Solar shares worth approximately $25.2 million, representing a 0.31% stake in the company.
• Institutional investors own 52.36% of Canadian Solar, while an insider recently sold 1,767 shares at an average price of $19.45.
• Analysts maintain a consensus “Hold” rating with an average price target of $19.36; CSIQ recently opened at $14.55 and has traded between $9.41 and $34.59 over the past year.

OMERS ADMINISTRATION Corp bought a new stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 211,564 shares of the solar energy provider's stock, valued at approximately $25,239,000. OMERS ADMINISTRATION Corp owned 0.31% of Canadian Solar as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Canadian Solar in the second quarter valued at about $25,000. Raymond James Financial Inc. acquired a new stake in Canadian Solar in the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd raised its holdings in 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 purchasing an additional 2,463 shares during the last quarter. Optiver Holding B.V. acquired a new position in Canadian Solar during the 1st quarter valued at about $44,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Canadian Solar during the 4th quarter valued at about $48,000. Institutional investors own 52.36% of the company's stock.

Insider Buying and Selling at Canadian Solar

In related news, Director Leslie Li Hsien Chang sold 1,767 shares of Canadian Solar stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $19.45, for a total transaction of $34,368.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.50% of the stock is owned by corporate insiders.

Canadian Solar Price Performance

Shares of CSIQ opened at $14.55 on Monday. The stock has a market cap of $987.95 million, a P/E ratio of -5.77 and a beta of 1.52. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59. The stock's 50-day moving average price is $15.20 and its two-hundred day moving average price is $16.27. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.

Analysts Set New Price Targets

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

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.

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