Canadian Solar Inc. (NASDAQ:CSIQ) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 1.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 110,188 shares of the solar energy provider’s stock after buying an additional 1,522 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.17% of Canadian Solar worth $1,847,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Mackenzie Financial Corp raised its stake in Canadian Solar by 25.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock valued at $75,456,000 after acquiring an additional 1,037,800 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Canadian Solar by 131.5% during the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock worth $7,186,000 after purchasing an additional 243,542 shares during the period. SIR Capital Management L.P. acquired a new stake in shares of Canadian Solar during the second quarter worth $3,994,000. D. Scott Neal Inc. purchased a new position in Canadian Solar in the 2nd quarter valued at $3,898,000. Finally, Foundry Partners LLC acquired a new position in Canadian Solar in the 2nd quarter valued at $3,667,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Price Performance

Canadian Solar stock opened at $12.41 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $13.60 and its 200 day simple moving average is $14.84. Canadian Solar Inc. has a 52 week low of $10.91 and a 52 week high of $26.85. The firm has a market capitalization of $821.03 million, a PE ratio of 24.33, a P/E/G ratio of 2.20 and a beta of 1.34.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSIQ. The Goldman Sachs Group dropped their price target on shares of Canadian Solar from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, August 26th. Oppenheimer dropped their target price on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 23rd. Roth Mkm reduced their price target on Canadian Solar from $25.00 to $20.00 and set a “buy” rating for the company in a report on Monday, August 26th. Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $19.00 to $11.00 in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group assumed coverage on Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price for the company. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.94.

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.