Canadian Solar (NASDAQ:CSIQ) Shares Down 5.3% - What's Next?

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) were down 5.3% on Tuesday . The company traded as low as $9.51 and last traded at $9.30. Approximately 51,451 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,930,561 shares. The stock had previously closed at $9.82.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSIQ shares. Citigroup raised shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 target price on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group reduced their price objective on Canadian Solar from $11.00 to $9.00 and set a "sell" rating on the stock in a research note on Wednesday, March 26th. StockNews.com lowered Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Roth Capital downgraded Canadian Solar from a "buy" rating to a "neutral" rating and set a $9.00 price target on the stock. in a report on Friday, April 25th. Finally, Wells Fargo & Company decreased their price objective on Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.77.

Canadian Solar Trading Up 1.1 %

The stock has a market capitalization of $631.82 million, a PE 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 business's 50-day moving average is $9.04 and its two-hundred day moving average is $10.86.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.26). The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.57 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company's revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) earnings per share. As a group, equities research analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CSIQ. USCF Advisers LLC boosted its position in shares of Canadian Solar by 66.7% during the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Canadian Solar by 184.0% in 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 during the period. Sciencast Management LP purchased a new stake in Canadian Solar during the fourth quarter worth about $113,000. Miracle Mile Advisors LLC acquired a new position in Canadian Solar during the fourth quarter worth about $133,000. Finally, Hsbc Holdings PLC purchased a new position in Canadian Solar in the fourth quarter valued at about $177,000. Hedge funds and other institutional investors own 52.36% of the company's stock.

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.