Roth Capital Downgrades Canadian Solar (NASDAQ:CSIQ) to Neutral

Roth Capital downgraded shares of Canadian Solar (NASDAQ:CSIQ - Free Report) from a buy rating to a neutral rating in a research report released on Friday, MarketBeat.com reports. Roth Capital currently has $9.00 price target on the solar energy provider's stock.

Other research analysts have also issued research reports about the company. Citigroup upgraded Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective for the company in a research report on Thursday, April 17th. Wells Fargo & Company cut their price objective on Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group cut their price objective on Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a research report on Wednesday, March 26th. Finally, StockNews.com lowered Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.77.

Canadian Solar Stock Performance

Shares of CSIQ traded down $0.42 on Friday, reaching $9.23. The company's stock had a trading volume of 969,972 shares, compared to its average volume of 1,932,771. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The stock has a market capitalization of $610.65 million, a P/E ratio of -76.92, a PEG ratio of 0.74 and a beta of 1.33. The stock's 50 day simple moving average is $9.14 and its two-hundred day simple moving average is $10.93. Canadian Solar has a 12-month low of $6.57 and a 12-month high of $21.05.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same period in the prior year, the firm earned ($0.02) EPS. Canadian Solar's revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts forecast that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in Canadian Solar by 59.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider's stock worth $2,010,000 after purchasing an additional 67,331 shares during the period. Shah Capital Management increased its stake in Canadian Solar by 825.6% in the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider's stock worth $19,410,000 after buying an additional 1,556,964 shares during the period. Barclays PLC lifted its holdings in Canadian Solar by 494.4% during the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock valued at $1,932,000 after buying an additional 95,924 shares in the last quarter. Waterfront Wealth Inc. boosted its position in Canadian Solar by 16.9% in the 4th quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider's stock valued at $2,059,000 after buying an additional 26,778 shares during the period. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in Canadian Solar in the 4th quarter worth about $7,738,000. 52.36% of the stock is owned by institutional investors.

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.