Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Rating of "Hold" from Analysts

Key Points

• Canadian Solar has a consensus “Hold” rating among 13 analysts: seven recommend holding, three recommend selling, and three recommend buying. The average 12-month price target is $19.36, above the reported share price of $14.55.
• Recent analyst actions were generally neutral, with Citigroup and Mizuho assigning “Neutral” ratings and raising their price targets to $18, while Freedom Capital downgraded the stock to “Hold.”
• The stock has fallen well below its one-year high of $34.59 and currently trades near its 50-day and 200-day moving averages; insiders own 21.50% of shares, while hedge funds and institutions own 52.36%.

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) has earned a consensus rating of "Hold" from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.3640.

CSIQ has been the topic of a number of recent analyst reports. Citigroup raised Canadian Solar from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $11.00 to $18.00 in a research report on Wednesday, July 22nd. Mizuho lifted their price target on Canadian Solar from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, June 15th. Freedom Capital downgraded Canadian Solar from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Finally, Wall Street Zen raised shares of Canadian Solar from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd.

Insider Buying and Selling at Canadian Solar

In other news, Director Leslie Li Hsien Chang sold 1,767 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $19.45, for a total transaction of $34,368.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 21.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Canadian Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of 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 valued at $4,748,000 after purchasing an additional 92,002 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Canadian Solar by 141.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider's stock valued at $100,000 after buying an additional 5,338 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 valued at $9,539,000 after buying an additional 145,867 shares during the period. Raymond James Financial Inc. acquired a new position in Canadian Solar during the second quarter valued at $33,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Canadian Solar in the 2nd quarter worth about $790,000. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Price Performance

Shares of NASDAQ:CSIQ opened at $14.55 on Friday. The company has a market capitalization of $987.95 million, a PE ratio of -5.77 and a beta of 1.52. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 1.06. The stock has a fifty day moving average of $15.20 and a 200-day moving average of $16.29. Canadian Solar has a one year low of $9.41 and a one year high of $34.59.

Canadian Solar Company Profile

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.

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