Canadian Solar Target of Unusually High Options Trading (NASDAQ:CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) saw unusually large options trading activity on Friday. Traders purchased 8,278 call options on the company. This represents an increase of 139% compared to the typical daily volume of 3,464 call options.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CSIQ. The Goldman Sachs Group reduced their price target on shares of Canadian Solar from $11.00 to $9.00 and set a "sell" rating on the stock in a research report on Wednesday, March 26th. Roth Capital cut shares of Canadian Solar from a "buy" rating to a "neutral" rating and set a $9.00 price objective on the stock. in a report on Friday. StockNews.com cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Citigroup raised shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company dropped their price objective 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. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.77.

Canadian Solar Stock Down 11.9 %

Shares of NASDAQ CSIQ traded down $1.33 during mid-day trading on Monday, reaching $9.82. The company had a trading volume of 4,681,685 shares, compared to its average volume of 1,937,049. The stock has a market capitalization of $649.68 million, a PE ratio of -81.83, a price-to-earnings-growth ratio of 0.74 and a beta of 1.33. Canadian Solar has a twelve month low of $6.57 and a twelve month high of $21.05. The stock's 50 day moving average is $9.18 and its 200-day moving average is $10.94. 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 (NASDAQ:CSIQ - Get Free Report) last released its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.26). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.57 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, equities analysts anticipate that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Large investors have recently modified their holdings of the business. USCF Advisers LLC boosted its position in shares of Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock worth $28,000 after buying an additional 1,000 shares during the period. Wells Fargo & Company MN boosted its position in Canadian Solar by 184.0% during the fourth 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 during the last quarter. Shell Asset Management Co. boosted its position in Canadian Solar by 11.4% during the fourth 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 during the last quarter. NewEdge Advisors LLC boosted its position in Canadian Solar by 6.7% during the fourth quarter. NewEdge Advisors LLC now owns 75,481 shares of the solar energy provider's stock valued at $839,000 after purchasing an additional 4,717 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in Canadian Solar by 37.1% during the third quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider's stock valued at $520,000 after purchasing an additional 8,404 shares during the last quarter. 52.36% of the stock is currently owned by 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.