Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.32 and traded as high as $13.07. Canadian Solar shares last traded at $12.48, with a volume of 565,799 shares traded.
Analyst Upgrades and Downgrades
CSIQ has been the topic of several recent analyst reports. Citigroup raised shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective on the stock in a research report on Thursday, April 17th. Roth Capital set a $11.00 price objective on shares of Canadian Solar and gave the stock a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company raised their target price on shares of Canadian Solar from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Canadian Solar from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Mizuho cut their target price on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Monday, June 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Canadian Solar currently has a consensus rating of "Hold" and an average price target of $14.16.
Read Our Latest Analysis on CSIQ
Canadian Solar Price Performance
The stock has a market capitalization of $820.38 million, a PE ratio of -24.50 and a beta of 1.38. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. The stock's 50 day moving average price is $11.17 and its 200-day moving average price is $10.33.
Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.50) by $0.43. Canadian Solar had a negative net margin of 0.18% and a negative return on equity of 4.34%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the business earned $0.19 EPS. The firm's quarterly revenue was down 10.0% on a year-over-year basis. As a group, equities analysts forecast that Canadian Solar Inc. will post -0.23 EPS for the current year.
Institutional Trading of Canadian Solar
Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Canadian Solar by 59.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider's stock valued at $2,010,000 after buying an additional 67,331 shares in the last quarter. Wells Fargo & Company MN raised its position in Canadian Solar by 184.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock worth $57,000 after buying an additional 3,347 shares during the last quarter. Robotti Robert raised its position in Canadian Solar by 55.2% during the 4th quarter. Robotti Robert now owns 487,880 shares of the solar energy provider's stock worth $5,425,000 after buying an additional 173,499 shares during the last quarter. Northern Trust Corp raised its position in Canadian Solar by 89.9% during the 4th quarter. Northern Trust Corp now owns 26,319 shares of the solar energy provider's stock worth $293,000 after buying an additional 12,458 shares during the last quarter. Finally, IvyRock Asset Management HK Ltd purchased a new position in shares of Canadian Solar during the 4th quarter valued at approximately $15,440,000. 52.36% of the stock is currently owned by institutional investors.
Canadian Solar Company Profile
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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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