6,062,146 Shares in Canadian Solar Inc. $CSIQ Purchased by Deutsche Bank AG

Deutsche Bank AG acquired a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,062,146 shares of the solar energy provider’s stock, valued at approximately $722,850,000. Deutsche Bank AG owned about 0.09% of Canadian Solar as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Canadian Solar by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock worth $4,748,000 after acquiring an additional 92,002 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Canadian Solar by 141.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock worth $100,000 after purchasing an additional 5,338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Canadian Solar by 20.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock worth $9,539,000 after buying an additional 145,867 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Canadian Solar during the 2nd quarter valued at $33,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Canadian Solar during the second quarter valued at about $790,000. 52.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Canadian Solar

In related news, Director Leslie Li Hsien Chang sold 1,767 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total transaction of $34,368.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CSIQ. Mizuho boosted their price objective on shares of Canadian Solar from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, June 15th. Freedom Capital downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Citigroup raised Canadian Solar from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $11.00 to $18.00 in a research report on Wednesday, July 22nd. Finally, 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. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Canadian Solar has a consensus rating of “Hold” and an average price target of $19.36.

Canadian Solar Price Performance

NASDAQ CSIQ opened at $14.79 on Tuesday. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -5.87 and a beta of 1.52. Canadian Solar Inc. has a 12 month low of $9.41 and a 12 month high of $34.59. The company’s 50 day moving average is $15.28 and its two-hundred day moving average is $16.41. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.

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.