K.J. Harrison & Partners Inc Takes Position in Canadian Solar Inc. $CSIQ

K.J. Harrison & Partners Inc acquired a new position in Canadian Solar Inc. (NASDAQ:CSIQ) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,654 shares of the solar energy provider’s stock, valued at approximately $5,080,000. K.J. Harrison & Partners Inc owned 0.06% of Canadian Solar as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSIQ. Deutsche Bank AG purchased a new stake in Canadian Solar during the second quarter valued at approximately $722,850,000. BlackRock Inc. purchased a new position in shares of Canadian Solar during the 2nd quarter worth $85,219,000. Two Sigma Investments LP purchased a new position in shares of Canadian Solar during the 3rd quarter worth $11,544,000. Bank of America Corp DE grew its position in shares of Canadian Solar by 292.7% during the 1st quarter. Bank of America Corp DE now owns 1,071,486 shares of the solar energy provider’s stock valued at $14,840,000 after acquiring an additional 798,610 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in shares of Canadian Solar during the 2nd quarter valued at $89,510,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director Leslie Li Hsien Chang sold 1,767 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $19.45, for a total value of $34,368.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSIQ shares. Wall Street Zen raised Canadian Solar from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Citigroup raised Canadian Solar from a “sell” rating to a “neutral” rating and boosted their price target for the company from $11.00 to $18.00 in a report on Wednesday, July 22nd. Mizuho upped their price target on Canadian Solar from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, June 15th. Finally, Freedom Capital downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.36.

Canadian Solar Stock Performance

Shares of NASDAQ CSIQ opened at $14.79 on Tuesday. The firm has a fifty day moving average price of $15.28 and a 200-day moving average price of $16.41. 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 has a market cap of $1.00 billion, a PE ratio of -5.87 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.

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.