ValuEngine cut shares of Canadian Solar (NASDAQ:CSIQ) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.
Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. set a $25.00 price target on shares of Canadian Solar and gave the stock a hold rating in a report on Friday, June 21st. Zacks Investment Research upgraded shares of Canadian Solar from a hold rating to a buy rating and set a $24.00 price target for the company in a report on Thursday, June 20th. Finally, BidaskClub downgraded shares of Canadian Solar from a strong-buy rating to a buy rating in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Canadian Solar presently has a consensus rating of Hold and an average price target of $22.50.
NASDAQ CSIQ traded down $0.43 on Thursday, hitting $21.80. 507,617 shares of the company’s stock were exchanged, compared to its average volume of 432,217. The business has a 50-day moving average price of $21.42. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Canadian Solar has a 52 week low of $12.30 and a 52 week high of $25.89. The company has a market cap of $1.27 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 0.27 and a beta of 2.23.
Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, May 30th. The solar energy provider reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.15. Canadian Solar had a return on equity of 12.92% and a net margin of 6.29%. The firm had revenue of $484.70 million during the quarter, compared to analysts’ expectations of $468.25 million. During the same period in the prior year, the company earned $0.72 earnings per share. The company’s quarterly revenue was down 46.2% on a year-over-year basis. On average, equities research analysts anticipate that Canadian Solar will post 2.45 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in Canadian Solar by 1.8% in the fourth quarter. Northern Trust Corp now owns 92,311 shares of the solar energy provider’s stock valued at $1,324,000 after purchasing an additional 1,596 shares during the period. Norges Bank acquired a new stake in Canadian Solar in the fourth quarter valued at $17,966,000. Financial Gravity Wealth Inc. acquired a new stake in Canadian Solar in the first quarter valued at $26,000. Hussman Strategic Advisors Inc. increased its holdings in Canadian Solar by 66.7% in the first quarter. Hussman Strategic Advisors Inc. now owns 125,000 shares of the solar energy provider’s stock valued at $2,329,000 after purchasing an additional 50,000 shares during the period. Finally, Shell Asset Management Co. acquired a new stake in Canadian Solar in the first quarter valued at $363,000. Institutional investors and hedge funds own 40.93% 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 products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
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