Investors Purchase High Volume of Put Options on Canadian Solar (CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) saw some unusual options trading activity on Wednesday. Stock traders purchased 8,714 put options on the company. This represents an increase of 989% compared to the typical daily volume of 800 put options.

Several large investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Canadian Solar by 6.0% in the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares during the period. Van ECK Associates Corp raised its position in shares of Canadian Solar by 2.7% in the 2nd quarter. Van ECK Associates Corp now owns 84,436 shares of the solar energy provider’s stock valued at $1,344,000 after acquiring an additional 2,217 shares during the period. Northern Trust Corp raised its position in shares of Canadian Solar by 11.7% in the 2nd quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock valued at $487,000 after acquiring an additional 3,198 shares during the period. Global X MANAGEMENT CO LLC raised its position in shares of Canadian Solar by 9.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 41,031 shares of the solar energy provider’s stock valued at $691,000 after acquiring an additional 3,550 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after acquiring an additional 4,100 shares during the period. Institutional investors and hedge funds own 42.08% of the company’s stock.

Shares of Canadian Solar (NASDAQ CSIQ) opened at $15.80 on Friday. The firm has a market cap of $913.72, a P/E ratio of 38.54, a P/E/G ratio of 0.34 and a beta of 3.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88. Canadian Solar has a 52-week low of $10.86 and a 52-week high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $912.20 million for the quarter, compared to the consensus estimate of $812.37 million. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. Canadian Solar’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. research analysts predict that Canadian Solar will post 0.97 earnings per share for the current fiscal year.

A number of research firms have issued reports on CSIQ. BidaskClub downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday. B. Riley set a $15.00 target price on shares of Canadian Solar and gave the company a “hold” rating in a research report on Friday, January 12th. Goldman Sachs Group began coverage on shares of Canadian Solar in a research report on Tuesday, January 9th. They set a “neutral” rating and a $19.00 target price on the stock. Axiom Securities downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. downgraded shares of Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 target price on the stock. in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $18.82.

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About Canadian Solar

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

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