JLB & Associates Inc. Purchases Shares of 49,235 Canadian Solar Inc. $CSIQ

JLB & Associates Inc. purchased a new position in Canadian Solar Inc. (NASDAQ:CSIQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,235 shares of the solar energy provider’s stock, valued at approximately $5,871,000. JLB & Associates Inc. owned 0.07% of Canadian Solar as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG bought a new stake in Canadian Solar during the second quarter valued at $722,850,000. BlackRock Inc. bought a new position in Canadian Solar in the 2nd quarter worth about $85,219,000. Two Sigma Investments LP bought a new position in Canadian Solar in the 3rd quarter worth about $11,544,000. Bank of America Corp DE raised its holdings in shares of Canadian Solar by 292.7% in 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 in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of Canadian Solar during the 2nd quarter valued at about $89,510,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Analyst Upgrades and Downgrades

CSIQ has been the subject of several recent analyst reports. Mizuho boosted their price objective on Canadian Solar from $15.00 to $18.00 and gave the stock 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 lifted their target price for the company from $11.00 to $18.00 in a research report on Wednesday, July 22nd. Freedom Capital cut shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen raised shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.36.

Canadian Solar Price Performance

Shares of Canadian Solar stock opened at $14.74 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.00 billion, a PE ratio of -5.85 and a beta of 1.52. The business’s 50-day moving average price is $15.25 and its 200-day moving average price is $16.36. Canadian Solar Inc. has a 12 month low of $9.41 and a 12 month high of $34.59.

Insiders Place Their Bets

In other Canadian Solar news, Director Leslie Li Hsien Chang sold 1,767 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total value of $34,368.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.50% of the stock is owned by insiders.

About Canadian Solar

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.