Canadian Solar (NASDAQ:CSIQ) Shares Up 8.8%

Canadian Solar Inc. (NASDAQ:CSIQ)’s stock price traded up 8.8% during mid-day trading on Tuesday . The stock traded as high as $14.41 and last traded at $14.36. 492,822 shares traded hands during trading, a decline of 68% from the average session volume of 1,527,621 shares. The stock had previously closed at $13.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CSIQ shares. Roth Mkm restated a “buy” rating and set a $25.00 price target on shares of Canadian Solar in a research note on Wednesday, May 22nd. Glj Research increased their price objective on Canadian Solar from $9.10 to $12.28 and gave the company a “sell” rating in a report on Tuesday, July 30th. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. UBS Group cut their price target on shares of Canadian Solar from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on Canadian Solar from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Solar currently has a consensus rating of “Hold” and a consensus target price of $27.03.

Canadian Solar Trading Up 10.5 %

The company has a fifty day moving average of $16.04 and a 200-day moving average of $17.95. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $964.60 million, a price-to-earnings ratio of 4.99, a PEG ratio of 0.30 and a beta of 1.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSIQ. DekaBank Deutsche Girozentrale boosted its stake in Canadian Solar by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 12,481 shares of the solar energy provider’s stock worth $326,000 after buying an additional 928 shares during the period. Cerity Partners LLC acquired a new stake in Canadian Solar in the fourth quarter valued at $2,540,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Canadian Solar by 38.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,687 shares of the solar energy provider’s stock worth $411,000 after buying an additional 4,346 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Canadian Solar by 27.1% during the 4th quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock worth $103,661,000 after buying an additional 843,100 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its position in shares of Canadian Solar by 3.2% during the 4th quarter. Waterfront Wealth Inc. now owns 64,742 shares of the solar energy provider’s stock worth $1,698,000 after acquiring an additional 2,037 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.