Harel Insurance Investments & Financial Services Ltd. Increases Stake in Canadian Solar Inc. (NASDAQ:CSIQ)

Harel Insurance Investments & Financial Services Ltd. grew its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 27.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,435 shares of the solar energy provider’s stock after buying an additional 3,768 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Canadian Solar were worth $257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. USCF Advisers LLC raised its holdings in Canadian Solar by 87.5% in the 4th quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock worth $39,000 after acquiring an additional 700 shares during the last quarter. Green Alpha Advisors LLC raised its stake in shares of Canadian Solar by 1.9% in the first quarter. Green Alpha Advisors LLC now owns 41,136 shares of the solar energy provider’s stock worth $813,000 after purchasing an additional 766 shares during the last quarter. Scotia Capital Inc. raised its stake in shares of Canadian Solar by 3.0% in the fourth quarter. Scotia Capital Inc. now owns 39,400 shares of the solar energy provider’s stock worth $1,033,000 after purchasing an additional 1,130 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Canadian Solar by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the solar energy provider’s stock valued at $302,000 after purchasing an additional 1,283 shares in the last quarter. Finally, Summit Place Financial Advisors LLC boosted its position in shares of Canadian Solar by 7.8% during the first quarter. Summit Place Financial Advisors LLC now owns 33,013 shares of the solar energy provider’s stock valued at $652,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Performance

Shares of CSIQ stock traded down $0.37 during mid-day trading on Tuesday, reaching $14.49. 568,964 shares of the company’s stock traded hands, compared to its average volume of 1,511,843. Canadian Solar Inc. has a 12 month low of $13.04 and a 12 month high of $31.21. The firm has a 50 day moving average price of $15.68 and a two-hundred day moving average price of $17.67. The firm has a market capitalization of $958.64 million, a PE ratio of 5.16, a price-to-earnings-growth ratio of 0.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.02.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSIQ. UBS Group lowered their target price on shares of Canadian Solar from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of Canadian Solar from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Glj Research lifted their target price on shares of Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. StockNews.com lowered shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, Roth Mkm restated a “buy” rating and issued a $25.00 price target on shares of Canadian Solar in a research note on Wednesday, May 22nd. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.03.

Canadian Solar Profile

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.