Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $8.87 and last traded at $9.02, with a volume of 2556329 shares trading hands. The stock had previously closed at $9.65.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on CSIQ shares. Citigroup upgraded Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective on the stock in a report on Thursday, April 17th. Wells Fargo & Company lowered their price target on shares of Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 8th. StockNews.com downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Roth Capital cut Canadian Solar from a "buy" rating to a "neutral" rating and set a $9.00 target price on the stock. in a report on Friday, April 25th. Finally, The Goldman Sachs Group cut their price target on Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a report on Wednesday, March 26th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $16.77.
Check Out Our Latest Analysis on CSIQ
Canadian Solar Trading Up 1.1 %
The firm has a market cap of $631.82 million, a price-to-earnings ratio of -79.58, a price-to-earnings-growth ratio of 0.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. The company has a 50 day moving average price of $9.04 and a 200 day moving average price of $10.86.
Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company earned ($0.02) EPS. The company's quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts expect that Canadian Solar Inc. will post -0.23 earnings per share for the current year.
Institutional Trading of Canadian Solar
Institutional investors have recently added to or reduced their stakes in the stock. Shah Capital Management boosted its position in shares of Canadian Solar by 825.6% during the fourth 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. IvyRock Asset Management HK Ltd purchased a new position in Canadian Solar during the 4th quarter valued at about $15,440,000. Greenwoods Asset Management Hong Kong Ltd. acquired a new position in Canadian Solar in the 4th quarter valued at about $7,738,000. Mackenzie Financial Corp grew its position in Canadian Solar by 6.9% in the 4th quarter. Mackenzie Financial Corp now owns 5,523,565 shares of the solar energy provider's stock valued at $61,422,000 after acquiring an additional 357,900 shares in the last quarter. Finally, Robotti Robert increased its stake in Canadian Solar by 55.2% during the fourth quarter. Robotti Robert now owns 487,880 shares of the solar energy provider's stock worth $5,425,000 after purchasing an additional 173,499 shares during the period. Institutional investors and hedge funds own 52.36% of the company's stock.
About Canadian Solar
(
Get Free Report)
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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