Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $12.63, but opened at $12.13. Canadian Solar shares last traded at $12.23, with a volume of 909,704 shares trading hands.
Wall Street Analysts Forecast Growth
CSIQ has been the topic of a number of research analyst reports. Roth Mkm dropped their price target on shares of Canadian Solar from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, August 26th. StockNews.com cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Canadian Solar from $17.00 to $20.00 and gave the company an "underweight" rating in a research note on Tuesday, July 16th. The Goldman Sachs Group dropped their price target on shares of Canadian Solar from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, August 26th. Finally, Glj Research lifted their price target on shares of Canadian Solar from $9.10 to $12.28 and gave the company a "sell" rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Solar currently has an average rating of "Hold" and a consensus price target of $22.03.
View Our Latest Report on Canadian Solar
Canadian Solar Stock Performance
The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.04. The firm's 50 day simple moving average is $13.93 and its 200-day simple moving average is $15.51. The company has a market cap of $840.22 million, a price-to-earnings ratio of 4.41, a PEG ratio of 4.92 and a beta of 1.31.
Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The solar energy provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $2.39 EPS. The company's quarterly revenue was down 30.8% compared to the same quarter last year. On average, sell-side analysts predict that Canadian Solar Inc. will post 0.12 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CSIQ. Summit Place Financial Advisors LLC raised its holdings in shares of Canadian Solar by 7.8% during the 1st quarter. Summit Place Financial Advisors LLC now owns 33,013 shares of the solar energy provider's stock worth $652,000 after acquiring an additional 2,400 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Canadian Solar by 26.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,929 shares of the solar energy provider's stock valued at $1,342,000 after buying an additional 14,368 shares during the period. BNP Paribas Financial Markets raised its holdings in Canadian Solar by 30.9% in the 1st quarter. BNP Paribas Financial Markets now owns 198,646 shares of the solar energy provider's stock valued at $3,925,000 after buying an additional 46,888 shares during the period. Janney Montgomery Scott LLC raised its holdings in Canadian Solar by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the solar energy provider's stock valued at $302,000 after buying an additional 1,283 shares during the period. Finally, Capstone Investment Advisors LLC raised its holdings in Canadian Solar by 172.9% in the 1st quarter. Capstone Investment Advisors LLC now owns 37,370 shares of the solar energy provider's stock valued at $738,000 after buying an additional 23,676 shares during the period. Hedge funds and other institutional investors own 52.36% of the company's stock.
About Canadian Solar
(
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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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