Quantbot Technologies LP Invests $1.03 Million in Canadian Solar Inc. $CSIQ

Quantbot Technologies LP acquired a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 64,401 shares of the solar energy provider’s stock, valued at approximately $1,032,000. Quantbot Technologies LP owned 0.09% of Canadian Solar at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG purchased a new stake in shares of Canadian Solar during the second quarter valued at about $722,850,000. UBS Group AG raised its stake in shares of Canadian Solar by 71.3% during the 4th quarter. UBS Group AG now owns 399,963 shares of the solar energy provider’s stock worth $9,507,000 after acquiring an additional 166,412 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Canadian Solar by 930.3% during the 1st quarter. Hsbc Holdings PLC now owns 120,450 shares of the solar energy provider’s stock worth $1,668,000 after acquiring an additional 108,759 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Canadian Solar during the fourth quarter valued at approximately $2,995,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Canadian Solar by 14,259.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 224,011 shares of the solar energy provider’s stock valued at $5,325,000 after acquiring an additional 222,451 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CSIQ shares. Mizuho increased their price target on Canadian Solar from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, June 15th. Citigroup upgraded 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 note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Freedom Capital lowered shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.36.

Canadian Solar Price Performance

Canadian Solar stock opened at $13.87 on Thursday. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year 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 firm has a 50 day moving average price of $15.06 and a 200 day moving average price of $16.15. The company has a market cap of $941.77 million, a price-to-earnings ratio of -5.50 and a beta of 1.52.

Canadian Solar Company Profile

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.