Polar Asset Management Partners Inc. bought a new position in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 88,072 shares of the solar energy provider's stock, valued at approximately $10,492,000. Polar Asset Management Partners Inc. owned approximately 0.13% of Canadian Solar as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Canadian Solar in the 2nd quarter valued at about $25,000. Raymond James Financial Inc. purchased a new stake in Canadian Solar in the second quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd lifted its stake in Canadian Solar by 335.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider's stock valued at $42,000 after buying an additional 2,463 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of Canadian Solar in the first quarter valued at approximately $44,000. Finally, Quarry LP acquired a new stake in shares of Canadian Solar in the fourth quarter valued at approximately $54,000. 52.36% of the stock is owned by hedge funds and other institutional investors.
Canadian Solar Stock Performance
Shares of CSIQ opened at $14.28 on Wednesday. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59. The stock has a market capitalization of $969.61 million, a P/E ratio of -5.67 and a beta of 1.52. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 1.06. The company's fifty day moving average is $15.10 and its two-hundred day moving average is $16.18.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on CSIQ shares. Mizuho lifted their target price on shares of Canadian Solar from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, June 15th. Citigroup upgraded shares of Canadian Solar from a "sell" rating to a "neutral" rating and increased their price target for the stock from $11.00 to $18.00 in a research note on Wednesday, July 22nd. Freedom Capital downgraded shares of Canadian Solar from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Canadian Solar from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Canadian Solar has a consensus rating of "Hold" and an average price target of $19.36.
Check Out Our Latest Stock Report on Canadian Solar
About Canadian Solar
(
Free Report)
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.
See Also
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