Canadian Solar (NASDAQ:CSIQ) Sets New 1-Year Low at $15.08

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $15.08 and last traded at $15.26, with a volume of 1819555 shares trading hands. The stock had previously closed at $15.27.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Canadian Solar from a "sell" rating to a "hold" rating in a research note on Thursday, April 11th. Wells Fargo & Company lowered their price objective on shares of Canadian Solar from $28.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 19th. The Goldman Sachs Group reduced their target price on shares of Canadian Solar from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, March 15th. Citigroup reduced their target price on shares of Canadian Solar from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, March 15th. Finally, Daiwa Capital Markets assumed coverage on shares of Canadian Solar in a report on Monday, March 11th. They issued a "neutral" rating and a $21.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $31.78.

Canadian Solar Stock Performance

The firm has a market capitalization of $975.33 million, a PE ratio of 3.90, a price-to-earnings-growth ratio of 0.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.04. The company's fifty day moving average price is $19.86 and its two-hundred day moving average price is $21.46.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.11. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $1.11 earnings per share. Canadian Solar's revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, equities analysts expect that Canadian Solar Inc. will post 2.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Canadian Solar by 4.2% in the second quarter. BlackRock Inc. now owns 4,937,823 shares of the solar energy provider's stock valued at $191,044,000 after buying an additional 197,085 shares during the period. Mackenzie Financial Corp raised its holdings in Canadian Solar by 27.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider's stock valued at $103,661,000 after buying an additional 843,100 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Canadian Solar by 137.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider's stock valued at $92,569,000 after buying an additional 2,180,240 shares during the period. Vanguard Group Inc. raised its holdings in Canadian Solar by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 1,983,169 shares of the solar energy provider's stock valued at $52,019,000 after buying an additional 18,810 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Canadian Solar by 15.7% in the fourth quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider's stock valued at $41,330,000 after buying an additional 213,959 shares during the period. Hedge funds and other institutional investors own 52.36% of the company's stock.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.