DRW Securities LLC Sells 38,000 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

DRW Securities LLC trimmed its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 55.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the solar energy provider’s stock after selling 38,000 shares during the quarter. DRW Securities LLC’s holdings in Canadian Solar were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in Canadian Solar in the second quarter valued at approximately $31,000. Daiwa Securities Group Inc. lifted its position in shares of Canadian Solar by 20.3% during the 3rd 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 last quarter. Private Advisor Group LLC bought a new position in shares of Canadian Solar during the 3rd quarter worth $219,000. Northwestern Mutual Wealth Management Co. increased its holdings in Canadian Solar by 43.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after acquiring an additional 4,739 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Canadian Solar by 27.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock valued at $257,000 after acquiring an additional 3,768 shares during the period. 52.36% of the stock is owned by institutional investors.

Canadian Solar Price Performance

Canadian Solar stock opened at $12.43 on Wednesday. The stock has a market cap of $822.37 million, a price-to-earnings ratio of 24.37, a PEG ratio of 3.89 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $13.73 and a 200 day simple moving average of $14.94. Canadian Solar Inc. has a 52 week low of $10.91 and a 52 week high of $26.85.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSIQ. Jefferies Financial Group started coverage on shares of Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 target price for the company. Roth Mkm reduced their price objective on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Citigroup downgraded Canadian Solar from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Oppenheimer reduced their price target on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 23rd. Finally, Glj Research increased their price objective on Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.94.

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.