Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $10.50, but opened at $10.09. Canadian Solar shares last traded at $9.93, with a volume of 423,378 shares traded.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Citigroup raised Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price target for the company in a report on Thursday, April 17th. Wall Street Zen raised Canadian Solar from a "sell" rating to a "hold" rating in a report on Friday, May 16th. The Goldman Sachs Group raised their price target on Canadian Solar from $8.00 to $9.00 and gave the stock a "sell" rating in a report on Friday, May 16th. Mizuho raised their price target on Canadian Solar from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company raised their price target on Canadian Solar from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $16.77.
View Our Latest Analysis on Canadian Solar
Canadian Solar Stock Up 1.8%
The company has a market cap of $668.38 million, a P/E ratio of -83.13, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The company has a 50 day moving average of $9.02 and a 200-day moving average of $10.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.
Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share for the quarter, beating analysts' consensus estimates of ($1.50) by $0.43. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.19 earnings per share. The company's revenue for the quarter was down 10.0% on a year-over-year basis. On average, equities analysts predict that Canadian Solar Inc. will post -0.23 earnings per share for the current year.
Institutional Investors Weigh In On Canadian Solar
A number of large investors have recently added to or reduced their stakes in CSIQ. Caitong International Asset Management Co. Ltd purchased a new stake in Canadian Solar during the first quarter valued at about $39,000. Wells Fargo & Company MN raised its position in Canadian Solar by 184.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after purchasing an additional 3,347 shares in the last quarter. Summit Securities Group LLC raised its position in Canadian Solar by 598.5% during the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock valued at $61,000 after purchasing an additional 6,015 shares in the last quarter. Sciencast Management LP purchased a new stake in Canadian Solar during the fourth quarter valued at about $113,000. Finally, Templeton & Phillips Capital Management LLC raised its position in Canadian Solar by 14.6% during the first quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider's stock valued at $125,000 after purchasing an additional 1,843 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.
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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