BlackRock Inc. bought a new position in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 496,796 shares of the solar energy provider's stock, valued at approximately $59,238,000. BlackRock Inc. owned 0.73% of Canadian Solar as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Canadian Solar during the 2nd quarter worth about $96,000. Kelleher Financial Advisors acquired a new stake in shares of Canadian Solar in the 2nd quarter valued at about $186,000. Bridgewater Advisors Inc. bought a new stake in shares of Canadian Solar in the second quarter valued at about $213,000. OneDigital Investment Advisors LLC bought a new stake in shares of Canadian Solar in the second quarter valued at about $241,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Canadian Solar during the second quarter worth about $244,000. Institutional investors own 52.36% of the company's stock.
Canadian Solar Stock Performance
NASDAQ CSIQ opened at $12.33 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.95. The firm's fifty day moving average price is $14.88 and its two-hundred day moving average price is $15.98. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59. The firm has a market capitalization of $837.21 million, a P/E ratio of -3.21 and a beta of 1.52.
Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The solar energy provider reported ($1.40) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($1.22). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. Canadian Solar had a negative net margin of 3.73% and a negative return on equity of 5.57%. The business's revenue was down 28.7% on a year-over-year basis. During the same period last year, the business earned ($0.53) EPS. As a group, research analysts anticipate that Canadian Solar Inc. will post -2.51 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Roth Capital set a $15.00 price target on Canadian Solar in a research report on Friday. Mizuho cut their price objective on shares of Canadian Solar from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday. Freedom Capital cut shares of Canadian Solar from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Weiss Ratings downgraded shares of Canadian Solar from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday. Finally, Wall Street Zen lowered shares of Canadian Solar from a "sell" rating to a "strong sell" rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $17.75.
Read Our Latest Report on Canadian Solar
Canadian Solar Profile
(
Free Report)
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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