Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 5,674,241 Canadian Solar Inc. $CSIQ

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,674,241 shares of the solar energy provider’s stock, valued at approximately $676,361,000. Canadian Solar accounts for about 1.3% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 14th biggest position. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Canadian Solar at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Canadian Solar by 7.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after acquiring an additional 312 shares during the period. Global Retirement Partners LLC purchased a new stake in Canadian Solar during the 2nd quarter worth $96,000. Danske Bank A S purchased a new stake in Canadian Solar during the 2nd quarter worth $100,000. Kelleher Financial Advisors acquired a new stake in Canadian Solar in the 2nd quarter valued at $186,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Canadian Solar in the 2nd quarter valued at $25,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Price Performance

Shares of CSIQ stock opened at $14.55 on Monday. The company has a market capitalization of $987.95 million, a PE ratio of -5.77 and a beta of 1.52. The firm has a fifty day simple moving average of $15.20 and a 200-day simple moving average of $16.27. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. Canadian Solar Inc. has a twelve month low of $9.41 and a twelve month high of $34.59.

Insider Transactions at Canadian Solar

In other Canadian Solar news, Director Leslie Li Hsien Chang sold 1,767 shares of the business’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 document filed with the SEC, which is available at this link. 21.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.