Canadian Solar (NASDAQ:CSIQ) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Canadian Solar (NASDAQ:CSIQ) from a "hold" to a "sell" in a report issued Saturday.
• Despite mixed analyst actions, MarketBeat's consensus remains a "Hold" with an average price target of $17.66 while the stock opened at $13.36 and trades below its 50‑day ($17.89) and 200‑day ($19.80) moving averages.
• Fundamentals are weak: Canadian Solar reported last-quarter EPS of -$1.66, a negative net margin (−1.86%) and negative ROE (−4.95%), and analysts forecast about −$0.23 EPS for the current year.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

CSIQ has been the topic of several other reports. Freedom Capital upgraded Canadian Solar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 24th. Weiss Ratings restated a "sell (d+)" rating on shares of Canadian Solar in a report on Friday, March 27th. Oppenheimer reduced their price objective on shares of Canadian Solar from $38.00 to $19.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Roth Mkm decreased their price objective on shares of Canadian Solar from $30.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, March 23rd. Finally, Mizuho lowered their target price on shares of Canadian Solar from $19.00 to $15.00 and set a "neutral" rating for the company in a research note on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Canadian Solar presently has a consensus rating of "Hold" and an average price target of $17.66.

Canadian Solar Price Performance

Shares of NASDAQ:CSIQ opened at $13.36 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.83 and a current ratio of 1.02. Canadian Solar has a 52 week low of $6.57 and a 52 week high of $34.59. The firm has a market cap of $894.72 million, a PE ratio of -5.34 and a beta of 1.37. The firm's fifty day moving average is $17.89 and its 200-day moving average is $19.80.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share for the quarter. The company had revenue of $1.22 billion during the quarter. Canadian Solar had a negative net margin of 1.86% and a negative return on equity of 4.95%. Sell-side analysts predict that Canadian Solar will post -0.23 earnings per share for the current year.

Institutional Trading of Canadian Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in Canadian Solar in the fourth quarter worth approximately $278,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Canadian Solar during the fourth quarter valued at approximately $1,140,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Canadian Solar by 427.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 16,879 shares of the solar energy provider's stock valued at $401,000 after acquiring an additional 13,681 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Canadian Solar during the fourth quarter worth approximately $410,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Canadian Solar in the 4th quarter worth $6,013,000. 52.36% of the stock is owned by institutional investors.

About Canadian Solar

Canadian Solar Inc NASDAQ: CSIQ is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world's largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.

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