Canadian Solar (NASDAQ:CSIQ) Stock Price Down 2.5% - Should You Sell?

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) traded down 2.5% during trading on Thursday . The stock traded as low as $11.39 and last traded at $11.51. 653,384 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 1,742,982 shares. The stock had previously closed at $11.81.

Analyst Ratings Changes

A number of analysts have commented on CSIQ shares. Jefferies Financial Group assumed coverage on Canadian Solar in a report on Friday, November 22nd. They issued a "buy" rating and a $14.15 target price for the company. Mizuho began coverage on Canadian Solar in a research report on Friday, December 13th. They issued an "outperform" rating and a $20.00 target price on the stock. The Goldman Sachs Group cut Canadian Solar from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $14.00 to $11.00 in a report on Tuesday, December 17th. Citigroup downgraded Canadian Solar from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Canadian Solar from $15.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, December 5th. Five analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.58.

Canadian Solar Price Performance

The company's fifty day moving average is $12.53 and its two-hundred day moving average is $14.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. The firm has a market cap of $762.15 million, a price-to-earnings ratio of -96.00, a price-to-earnings-growth ratio of 8.89 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, topping analysts' consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.71 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm's revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Equities research analysts forecast that Canadian Solar Inc. will post 0.06 EPS for the current year.

Institutional Trading of Canadian Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in CSIQ. American Century Companies Inc. grew its holdings in shares of Canadian Solar by 8.0% in the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider's stock worth $276,000 after acquiring an additional 1,383 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Canadian Solar by 20.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider's stock valued at $149,000 after buying an additional 1,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Canadian Solar by 1.4% in the third 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. Quarry LP acquired a new position in Canadian Solar in the second quarter worth approximately $31,000. Finally, Green Alpha Advisors LLC increased its position in 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 buying an additional 3,282 shares during the last quarter. 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.