400,100 Shares in Canadian Solar Inc. $CSIQ Acquired by Robotti Robert

Robotti Robert bought a new stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 400,100 shares of the solar energy provider’s stock, valued at approximately $6,410,000. Canadian Solar comprises approximately 1.0% of Robotti Robert’s portfolio, making the stock its 25th largest holding. Robotti Robert owned 0.59% of Canadian Solar as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Canadian Solar during the second quarter worth $96,000. Danske Bank A S acquired a new position in Canadian Solar during the 2nd quarter valued at about $100,000. Kelleher Financial Advisors acquired a new stake in Canadian Solar in the second quarter worth about $186,000. Bridgewater Advisors Inc. purchased a new stake in shares of Canadian Solar during the second quarter worth about $213,000. Finally, Diversify Advisory Services LLC acquired a new position in shares of Canadian Solar during the second quarter valued at about $245,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho lifted their target price 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 upgraded shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and raised their price target for the stock from $11.00 to $18.00 in a report on Wednesday, July 22nd. Finally, Freedom Capital downgraded shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Canadian Solar presently has an average rating of “Hold” and a consensus target price of $19.36.

Insider Transactions at Canadian Solar

In other Canadian Solar news, Director Leslie Li Hsien Chang sold 1,767 shares of the firm’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.50% of the company’s stock.

Canadian Solar Trading Down 0.3%

Shares of NASDAQ:CSIQ opened at $14.74 on Wednesday. Canadian Solar Inc. has a 52-week low of $9.41 and a 52-week high of $34.59. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -5.85 and a beta of 1.52. 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 $15.25 and a 200-day moving average price of $16.36.

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.