52,713 Shares in Canadian Solar Inc. $CSIQ Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Canadian Solar Inc. (NASDAQ:CSIQ) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,713 shares of the solar energy provider’s stock, valued at approximately $844,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of Canadian Solar as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in Canadian Solar by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock worth $4,748,000 after buying an additional 92,002 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of 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 acquiring an additional 5,338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Canadian Solar by 20.9% during 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 acquiring an additional 145,867 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Canadian Solar during the second quarter worth about $33,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Canadian Solar in the second quarter worth approximately $790,000. 52.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSIQ shares. Mizuho upped their target price on Canadian Solar from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, June 15th. Freedom Capital lowered shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Wall Street Zen upgraded shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, 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 research note on Wednesday, July 22nd. Three investment 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’s stock. According to data from MarketBeat.com, Canadian Solar currently has an average rating of “Hold” and an average target price of $19.36.

Insider Buying and Selling

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

Canadian Solar Stock Down 1.2%

Shares of NASDAQ:CSIQ opened at $14.55 on Friday. The company has a market capitalization of $987.95 million, a price-to-earnings ratio of -5.77 and a beta of 1.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81. The business’s 50-day moving average is $15.20 and its 200-day moving average is $16.29. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59.

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.