Skandinaviska Enskilda Banken AB publ Sells 46,616 Shares of Canadian Solar Inc. $CSIQ

Skandinaviska Enskilda Banken AB publ decreased its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 43.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 60,181 shares of the solar energy provider’s stock after selling 46,616 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian Solar were worth $784,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in Canadian Solar by 7.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,884,865 shares of the solar energy provider’s stock worth $64,969,000 after acquiring an additional 405,800 shares during the period. Legal & General Group Plc boosted its position in shares of Canadian Solar by 21.7% during the 2nd quarter. Legal & General Group Plc now owns 1,815,113 shares of the solar energy provider’s stock valued at $20,039,000 after purchasing an additional 324,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 purchasing an additional 145,867 shares during the period. JPMorgan Chase & Co. grew its stake in Canadian Solar by 206.6% during the third quarter. JPMorgan Chase & Co. now owns 571,893 shares of the solar energy provider’s stock worth $7,457,000 after purchasing an additional 385,355 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Canadian Solar by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock worth $4,748,000 after purchasing an additional 92,002 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors and hedge funds.

Canadian Solar Stock Performance

Shares of CSIQ stock opened at $20.05 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of -55.69 and a beta of 1.28. The firm has a fifty day simple moving average of $21.80 and a two-hundred day simple moving average of $18.77. The company has a current ratio of 1.07, a quick ratio of 0.86 and a debt-to-equity ratio of 0.93. Canadian Solar Inc. has a 12 month low of $6.57 and a 12 month high of $34.59.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Mizuho reaffirmed an “underperform” rating and set a $21.00 price objective (up previously from $15.00) on shares of Canadian Solar in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Canadian Solar in a research note on Monday, December 29th. Roth Mkm raised their price target on shares of Canadian Solar from $11.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, November 17th. JPMorgan Chase & Co. upped their price objective on shares of Canadian Solar from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, November 14th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $19.64 price objective (up previously from $13.70) on shares of Canadian Solar in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Canadian Solar has a consensus rating of “Reduce” and an average price target of $19.85.

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.