211,564 Shares in Canadian Solar Inc. $CSIQ Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 211,564 shares of the solar energy provider’s stock, valued at approximately $25,239,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deutsche Bank AG bought a new stake in shares of Canadian Solar in the second quarter worth about $722,850,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Canadian Solar during the 2nd quarter worth approximately $676,361,000. BlackRock Inc. acquired a new stake in Canadian Solar during the 2nd quarter worth approximately $85,219,000. Invesco Ltd. lifted its stake in Canadian Solar by 19.3% in the third quarter. Invesco Ltd. now owns 2,200,622 shares of the solar energy provider’s stock valued at $28,696,000 after buying an additional 356,625 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Canadian Solar by 13.0% in the third quarter. Legal & General Group Plc now owns 2,051,228 shares of the solar energy provider’s stock valued at $26,741,000 after buying an additional 236,115 shares during the period. 52.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Leslie Li Hsien Chang sold 1,767 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. 21.50% of the stock is owned by company insiders.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $14.55 on Monday. Canadian Solar Inc. has a twelve month low of $9.41 and a twelve month high of $34.59. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $15.20 and a two-hundred day moving average price of $16.27. The company has a market cap of $987.95 million, a P/E ratio of -5.77 and a beta of 1.52.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSIQ. Wall Street Zen raised shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Freedom Capital cut shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and upped their target price for the stock from $11.00 to $18.00 in a research note on Wednesday, July 22nd. Finally, Mizuho increased their target price on Canadian Solar from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, June 15th. Three equities research 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. According to data from MarketBeat, Canadian Solar currently has a consensus rating of “Hold” and a consensus target price of $19.36.

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.