Man Group plc Acquires New Position in Canadian Solar Inc. $CSIQ

Man Group plc bought a new position in Canadian Solar Inc. (NASDAQ:CSIQ) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 181,084 shares of the solar energy provider’s stock, valued at approximately $21,602,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Roberts Glore & Co. Inc. IL purchased a new stake in shares of Canadian Solar in the second quarter valued at approximately $854,000. Polar Asset Management Partners Inc. purchased a new position in Canadian Solar during the second quarter worth approximately $10,492,000. Jupiter Topco LLC acquired a new position in Canadian Solar during the second quarter worth $6,331,000. J. Goldman & Co LP acquired a new position in Canadian Solar during the second quarter worth $1,767,000. Finally, Hsbc Holdings PLC purchased a new stake in Canadian Solar in the 2nd quarter valued at $581,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Canadian Solar Trading Down 2.9%

Shares of Canadian Solar stock opened at $13.87 on Thursday. The firm has a market capitalization of $941.77 million, a price-to-earnings ratio of -5.50 and a beta of 1.52. Canadian Solar Inc. has a fifty-two week low of $9.41 and a fifty-two week high of $34.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 1.06. The stock has a 50 day moving average of $15.06 and a 200 day moving average of $16.15.

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.