Canadian Solar (NASDAQ:CSIQ) Rating Lowered to "Sell" at StockNews.com

StockNews.com downgraded shares of Canadian Solar (NASDAQ:CSIQ - Free Report) from a hold rating to a sell rating in a research report released on Friday.

CSIQ has been the subject of several other reports. Mizuho initiated coverage on shares of Canadian Solar in a research note on Friday, December 13th. They issued an "outperform" rating and a $20.00 target price for the company. Citigroup downgraded shares of Canadian Solar from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on shares of Canadian Solar in a report on Friday, November 22nd. They issued a "buy" rating and a $14.15 target price on the stock. The Goldman Sachs Group cut Canadian Solar from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $14.00 to $11.00 in a report on Tuesday, December 17th. Finally, Wells Fargo & Company dropped their price objective on 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. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.31.

Canadian Solar Stock Down 5.8 %

Canadian Solar stock traded down $0.60 during mid-day trading on Friday, reaching $9.71. The company's stock had a trading volume of 2,305,069 shares, compared to its average volume of 1,669,120. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. Canadian Solar has a 12 month low of $9.56 and a 12 month high of $24.32. The business's 50 day simple moving average is $11.73 and its 200 day simple moving average is $13.16. The company has a market capitalization of $642.41 million, a price-to-earnings ratio of -80.92, a price-to-earnings-growth ratio of 0.68 and a beta of 1.26.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter last year, the company earned $0.32 EPS. Canadian Solar's revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, research analysts anticipate that Canadian Solar will post -0.23 earnings per share for the current year.

Institutional Trading of Canadian Solar

Several institutional investors have recently added to or reduced their stakes in the company. Waterfront Wealth Inc. lifted its holdings in shares of Canadian Solar by 16.9% during the fourth quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider's stock worth $2,059,000 after buying an additional 26,778 shares in the last quarter. Shah Capital Management raised its stake in Canadian Solar by 825.6% in the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider's stock worth $19,410,000 after purchasing an additional 1,556,964 shares in the last quarter. SG Americas Securities LLC raised its stake in Canadian Solar by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 85,545 shares of the solar energy provider's stock worth $951,000 after purchasing an additional 16,815 shares in the last quarter. USCF Advisers LLC boosted its holdings in 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 during the period. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Canadian Solar during the 4th quarter worth approximately $133,000. 52.36% of the stock is currently owned by institutional investors.

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.