Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Recommendation of "Hold" from Analysts

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) has received an average recommendation of "Hold" from the ten research firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.84.

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a report on Wednesday, March 26th. Citigroup decreased their price objective on shares of Canadian Solar from $12.00 to $11.00 and set a "sell" rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company cut their target price on shares of Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 8th. Finally, StockNews.com cut Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, January 31st.

Canadian Solar Price Performance

Shares of NASDAQ:CSIQ traded down $0.49 on Thursday, reaching $7.15. 1,740,369 shares of the company traded hands, compared to its average volume of 1,883,475. The stock has a market capitalization of $473.04 million, a PE ratio of -59.58, a P/E/G ratio of 0.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The company's 50 day moving average is $9.53 and its 200-day moving average is $11.42. Canadian Solar has a fifty-two week low of $6.57 and a fifty-two week high of $21.05.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same period in the prior year, the company earned ($0.02) earnings per share. The company's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts anticipate that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Canadian Solar

Several hedge funds and other institutional investors have recently modified their holdings of CSIQ. USCF Advisers LLC grew its stake in Canadian Solar by 66.7% in the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Canadian Solar by 184.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after buying an additional 3,347 shares during the last quarter. Sciencast Management LP bought a new stake in shares of Canadian Solar in the 4th quarter valued at approximately $113,000. Miracle Mile Advisors LLC acquired a new position in Canadian Solar in the fourth quarter worth approximately $133,000. Finally, Hsbc Holdings PLC bought a new position in Canadian Solar during the fourth quarter valued at approximately $177,000. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

About Canadian Solar

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.