Canadian Solar (NASDAQ:CSIQ) Price Target Lowered to $15.00 at Mizuho

Canadian Solar (NASDAQ:CSIQ - Free Report) had its target price cut by Mizuho from $17.00 to $15.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the solar energy provider's stock.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen upgraded Canadian Solar from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Citigroup upgraded Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective for the company in a research note on Thursday, April 17th. Wells Fargo & Company lifted their target price on Canadian Solar from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Roth Capital set a $11.00 target price on Canadian Solar and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group lifted their price objective on Canadian Solar from $8.00 to $9.00 and gave the stock a "sell" rating in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $16.58.

Canadian Solar Stock Performance

NASDAQ:CSIQ traded up $0.85 during trading on Monday, reaching $10.93. The company's stock had a trading volume of 1,196,098 shares, compared to its average volume of 1,867,691. Canadian Solar has a 12 month low of $6.57 and a 12 month high of $19.75. 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 firm has a 50 day moving average of $9.05 and a 200-day moving average of $10.38. The firm has a market cap of $732.00 million, a price-to-earnings ratio of -91.08, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The solar energy provider reported ($1.07) EPS for the quarter, beating the consensus estimate of ($1.50) by $0.43. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company earned $0.19 EPS. The company's revenue was down 10.0% on a year-over-year basis. Research analysts expect that Canadian Solar will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Solar

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Canadian Solar during the first quarter valued at $39,000. Wells Fargo & Company MN boosted its holdings in 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 worth $57,000 after acquiring an additional 3,347 shares in the last quarter. Summit Securities Group LLC boosted its holdings in Canadian Solar by 598.5% in the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock worth $61,000 after acquiring an additional 6,015 shares in the last quarter. Sciencast Management LP acquired a new stake in Canadian Solar in the fourth quarter worth about $113,000. Finally, Templeton & Phillips Capital Management LLC boosted its holdings in Canadian Solar by 14.6% in the first quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider's stock worth $125,000 after acquiring 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

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.