Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Canadian Solar Inc. (NASDAQ:CSIQ)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 1.4% during the third quarter, Holdings Channel.com reports. The firm 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’s holdings in Canadian Solar were worth $1,847,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp raised its position in shares of Canadian Solar by 25.4% in the second quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock valued at $75,456,000 after buying an additional 1,037,800 shares during the last quarter. Cerity Partners LLC raised its holdings in Canadian Solar by 131.5% in the 3rd quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after acquiring an additional 243,542 shares during the last quarter. SIR Capital Management L.P. purchased a new position in shares of Canadian Solar during the 2nd quarter worth $3,994,000. D. Scott Neal Inc. purchased a new position in shares of Canadian Solar during the 2nd quarter worth $3,898,000. Finally, Foundry Partners LLC purchased a new stake in shares of Canadian Solar in the second quarter valued at $3,667,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSIQ has been the topic of several recent analyst reports. Oppenheimer reduced 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. Jefferies Financial Group initiated coverage on shares of Canadian Solar in a research report on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price on the stock. Roth Mkm lowered their target price on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating for the company in a report on Monday, August 26th. The Goldman Sachs Group cut 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. Finally, Citigroup cut shares of 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. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.94.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $12.41 on Monday. The firm’s fifty day simple moving average is $13.60 and its 200 day simple moving average is $14.84. The company has a current ratio of 1.04, a quick ratio of 0.82 and a debt-to-equity ratio of 0.53. Canadian Solar Inc. has a twelve month low of $10.91 and a twelve month high of $26.85. The firm has a market capitalization of $821.03 million, a price-to-earnings ratio of 24.33, a PEG ratio of 2.20 and a beta of 1.34.

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.