Canadian Solar Inc. (NASDAQ:CSIQ) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) have been given a consensus recommendation of "Hold" by the ten ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.03.

Several equities research analysts recently issued reports on CSIQ shares. Glj Research lifted their price objective on Canadian Solar from $9.10 to $12.28 and gave the stock a "sell" rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Canadian Solar from $17.00 to $20.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 16th. Oppenheimer decreased their target price on shares of Canadian Solar from $43.00 to $27.00 and set an "outperform" rating on the stock in a research note on Friday, August 23rd. The Goldman Sachs Group dropped their price target on Canadian Solar from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, August 26th. Finally, Roth Mkm reduced their price objective on Canadian Solar from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, August 26th.

Canadian Solar Stock Up 4.0 %

Shares of NASDAQ CSIQ traded up $0.48 during mid-day trading on Monday, reaching $12.58. 2,838,294 shares of the company were exchanged, compared to its average volume of 1,702,937. Canadian Solar has a 1 year low of $11.41 and a 1 year high of $26.85. The firm has a 50-day moving average of $13.97 and a 200 day moving average of $15.30. The stock has a market cap of $832.29 million, a price-to-earnings ratio of 24.12, a P/E/G ratio of 3.95 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.53.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The solar energy provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Canadian Solar had a net margin of 0.56% and a return on equity of 0.99%. The company's quarterly revenue was down 30.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.39 earnings per share. On average, research analysts expect that Canadian Solar will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Prospera Financial Services Inc purchased a new position in shares of Canadian Solar during the third quarter worth $333,000. KBC Group NV boosted its holdings in Canadian Solar by 36.2% during the 3rd quarter. KBC Group NV now owns 142,402 shares of the solar energy provider's stock valued at $2,387,000 after acquiring an additional 37,850 shares during the period. Summit Place Financial Advisors LLC grew its position in Canadian Solar by 60.0% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 59,223 shares of the solar energy provider's stock valued at $993,000 after acquiring an additional 22,200 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Canadian Solar during the third quarter worth about $219,000. Finally, Green Alpha Advisors LLC lifted its position in shares of Canadian Solar by 8.8% during the third quarter. Green Alpha Advisors LLC now owns 40,390 shares of the solar energy provider's stock worth $677,000 after purchasing an additional 3,282 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.