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

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.31.

A number of analysts recently weighed in on CSIQ shares. Mizuho started coverage on shares of Canadian Solar in a report on Friday, December 13th. They set an "outperform" rating and a $20.00 target price on the stock. Jefferies Financial Group started coverage on shares of Canadian Solar in a report on Friday, November 22nd. They set a "buy" rating and a $14.15 target price on the stock. StockNews.com lowered shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. The Goldman Sachs Group lowered shares of Canadian Solar from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $14.00 to $11.00 in a report on Tuesday, December 17th. Finally, Wells Fargo & Company decreased 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 report on Wednesday, January 8th.

Hedge Funds Weigh In On Canadian Solar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. USCF Advisers LLC boosted its stake in shares of Canadian Solar by 66.7% in the 4th 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. Daiwa Securities Group Inc. boosted its stake in shares of Canadian Solar by 20.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider's stock valued at $149,000 after purchasing an additional 1,500 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Canadian Solar by 1.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider's stock valued at $1,847,000 after purchasing an additional 1,522 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Canadian Solar by 184.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after purchasing an additional 3,347 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in shares of Canadian Solar by 11.4% in the 4th quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider's stock valued at $450,000 after purchasing an additional 4,134 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Stock Performance

Shares of NASDAQ CSIQ traded down $0.07 during midday trading on Wednesday, hitting $11.28. The company's stock had a trading volume of 1,916,317 shares, compared to its average volume of 1,547,546. The stock has a fifty day moving average price of $11.12 and a 200 day moving average price of $12.64. Canadian Solar has a one year low of $9.56 and a one year high of $22.48. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $746.28 million, a price-to-earnings ratio of -94.00, a P/E/G ratio of 0.72 and a beta of 1.26.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company's quarterly revenue was down 18.4% compared to the same quarter last year. On average, research analysts forecast that Canadian Solar will post -0.23 EPS for the current fiscal year.

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.