Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report)'s share price traded up 5.3% during trading on Wednesday . The company traded as high as $10.27 and last traded at $10.30. 96,492 shares were traded during trading, a decline of 95% from the average session volume of 1,807,838 shares. The stock had previously closed at $9.78.
Wall Street Analyst Weigh In
Several analysts recently weighed in on CSIQ shares. StockNews.com cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group cut shares of Canadian Solar from a "neutral" rating to a "sell" rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Tuesday, December 17th. Finally, Mizuho started coverage on shares of Canadian Solar in a research note on Friday, December 13th. They issued an "outperform" rating and a $20.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $18.04.
View Our Latest Stock Analysis on Canadian Solar
Canadian Solar Price Performance
The firm's 50 day moving average is $10.43 and its 200 day moving average is $12.13. The firm has a market cap of $658.94 million, a P/E ratio of -83.00, a price-to-earnings-growth ratio of 0.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.
Institutional Trading of Canadian Solar
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. USCF Advisers LLC boosted its holdings 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 worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Wells Fargo & Company MN raised its position 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 worth $57,000 after purchasing an additional 3,347 shares during the last quarter. Sciencast Management LP bought a new position in Canadian Solar in the 4th quarter worth about $113,000. Miracle Mile Advisors LLC purchased a new stake in Canadian Solar during the 4th quarter valued at about $133,000. Finally, Daiwa Securities Group Inc. increased its stake in 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 purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.
About Canadian Solar
(
Get Free Report)
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.
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