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

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors acquired 15,417 call options on the company. This represents an increase of 233% compared to the typical daily volume of 4,632 call options.

Wall Street Analyst Weigh In

CSIQ has been the topic of several research reports. The Goldman Sachs Group decreased their price objective on shares of Canadian Solar from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of Canadian Solar from $17.00 to $20.00 and gave the company an "underweight" rating in a report on Tuesday, July 16th. Roth Mkm decreased their price objective on shares of Canadian Solar from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Oppenheimer decreased their price objective on shares of Canadian Solar from $43.00 to $27.00 and set an "outperform" rating on the stock in a report on Friday, August 23rd. Finally, StockNews.com downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.03.

Canadian Solar Price Performance

CSIQ traded up $2.10 on Monday, hitting $15.51. 5,833,700 shares of the stock were exchanged, compared to its average volume of 1,651,675. Canadian Solar has a 12 month low of $11.41 and a 12 month high of $26.85. The business has a 50-day moving average of $13.78 and a two-hundred day moving average of $15.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.82. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 4.92 and a beta of 1.31.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Canadian Solar had a net margin of 0.56% and a return on equity of 0.99%. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the prior year, the business posted $2.39 earnings per share. Canadian Solar's revenue was down 30.8% compared to the same quarter last year. Sell-side analysts forecast that Canadian Solar will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Several institutional investors and hedge funds have recently bought and sold shares of CSIQ. Mackenzie Financial Corp lifted its holdings in shares of Canadian Solar by 25.4% in the second quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider's stock worth $75,456,000 after acquiring an additional 1,037,800 shares during the last quarter. SIR Capital Management L.P. bought a new position in shares of Canadian Solar in the second quarter worth about $3,994,000. D. Scott Neal Inc. bought a new position in shares of Canadian Solar in the second quarter worth about $3,898,000. Foundry Partners LLC bought a new position in shares of Canadian Solar in the second quarter worth about $3,667,000. Finally, DNB Asset Management AS lifted its holdings in shares of Canadian Solar by 31.4% in the second quarter. DNB Asset Management AS now owns 886,963 shares of the solar energy provider's stock worth $13,083,000 after acquiring an additional 211,820 shares during the last quarter. Institutional investors own 52.36% of the company's stock.

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.