K.J. Harrison & Partners Inc Buys New Holdings in Canadian Solar Inc. $CSIQ

K.J. Harrison & Partners Inc purchased a new position in Canadian Solar Inc. (NASDAQ:CSIQ) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 42,654 shares of the solar energy provider’s stock, valued at approximately $5,080,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Canadian Solar during the 2nd quarter valued at approximately $96,000. Kelleher Financial Advisors bought a new stake in shares of Canadian Solar during the second quarter valued at approximately $186,000. Bridgewater Advisors Inc. purchased a new position in shares of Canadian Solar in the second quarter worth $213,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Canadian Solar in the fourth quarter worth $48,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Canadian Solar in the second quarter worth $241,000. 52.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Leslie Li Hsien Chang sold 1,767 shares of Canadian Solar 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.50% of the stock is owned by insiders.

Canadian Solar Trading Down 2.3%

Shares of NASDAQ CSIQ opened at $14.79 on Tuesday. The business’s 50 day moving average is $15.28 and its two-hundred day moving average is $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. 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 $1.00 billion, a P/E ratio of -5.87 and a beta of 1.52.

Canadian Solar 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.