BNP Paribas Financial Markets Has $4.11 Million Stake in Canadian Solar Inc. (NASDAQ:CSIQ)

BNP Paribas Financial Markets decreased its holdings in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 25.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,932 shares of the solar energy provider’s stock after selling 83,726 shares during the quarter. BNP Paribas Financial Markets owned 0.37% of Canadian Solar worth $4,105,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Canadian Solar during the second quarter worth about $31,000. Daiwa Securities Group Inc. increased its stake in shares of Canadian Solar by 20.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock valued at $149,000 after buying an additional 1,500 shares during the period. Private Advisor Group LLC acquired a new position in shares of Canadian Solar in the third quarter valued at approximately $219,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Canadian Solar by 43.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock valued at $232,000 after buying an additional 4,739 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Canadian Solar by 27.6% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock valued at $257,000 after buying an additional 3,768 shares during the period. Institutional investors and hedge funds own 52.36% of the company’s stock.

Analysts Set New Price Targets

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

Canadian Solar Stock Performance

Shares of CSIQ stock opened at $12.07 on Thursday. The business’s 50 day simple moving average is $13.51 and its 200 day simple moving average is $14.78. Canadian Solar Inc. has a one year low of $10.91 and a one year high of $26.85. The stock has a market capitalization of $798.55 million, a PE ratio of 24.67, a PEG ratio of 1.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.82.

Canadian Solar Profile

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.