Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 5,790,000 shares, a drop of 11.6% from the July 15th total of 6,550,000 shares. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 12.2% of the company’s stock are short sold.
Institutional Trading of Canadian Solar
Large investors have recently bought and sold shares of the business. USCF Advisers LLC lifted its holdings in shares of Canadian Solar by 87.5% in the fourth quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock worth $39,000 after acquiring an additional 700 shares during the last quarter. Quarry LP bought a new position in Canadian Solar in the 2nd quarter valued at approximately $31,000. Daiwa Securities Group Inc. boosted its position in Canadian Solar by 72.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock valued at $146,000 after buying an additional 3,100 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Canadian Solar during the fourth quarter worth $201,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Canadian Solar during the fourth quarter worth $359,000. 52.36% of the stock is owned by institutional investors and hedge funds.
Canadian Solar Price Performance
CSIQ stock traded up $0.11 during mid-day trading on Monday, hitting $14.86. The stock had a trading volume of 846,014 shares, compared to its average volume of 1,517,769. The firm has a fifty day simple moving average of $15.68 and a 200 day simple moving average of $17.67. Canadian Solar has a 52 week low of $13.04 and a 52 week high of $31.21. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $983.12 million, a P/E ratio of 5.16, a P/E/G ratio of 0.30 and a beta of 1.29.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on Canadian Solar
Canadian Solar Company 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.
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