Short Interest in Canadian Solar Inc. (NASDAQ:CSIQ) Rises By 15.3%

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 12,090,000 shares, an increase of 15.3% from the January 15th total of 10,490,000 shares. Approximately 25.6% of the company's shares are sold short. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is presently 6.4 days.

Canadian Solar Stock Up 2.7 %

Shares of Canadian Solar stock traded up $0.30 during trading on Thursday, hitting $11.35. 1,243,098 shares of the stock traded hands, compared to its average volume of 1,536,339. The stock has a market cap of $750.92 million, a P/E ratio of -94.58, a PEG ratio of 0.71 and a beta of 1.26. The company has a fifty day moving average price of $11.14 and a two-hundred day moving average price of $12.65. Canadian Solar has a twelve month low of $9.56 and a twelve month high of $22.59. 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 announced its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company's revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts predict that Canadian Solar will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

CSIQ has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, January 31st. The Goldman Sachs Group cut shares of Canadian Solar from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $14.00 to $11.00 in a research report on Tuesday, December 17th. Jefferies Financial Group started 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. Finally, Mizuho assumed coverage on Canadian Solar in a report on Friday, December 13th. They set an "outperform" rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Solar currently has a consensus rating of "Hold" and an average price target of $18.31.

Institutional Investors Weigh In On Canadian Solar

Several hedge funds and other institutional investors have recently made changes to their positions in the business. USCF Advisers LLC boosted its stake in Canadian Solar by 66.7% during the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider's stock valued at $28,000 after purchasing an additional 1,000 shares during the period. Wells Fargo & Company MN boosted its position in shares of Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after acquiring an additional 3,347 shares during the period. Sciencast Management LP acquired a new stake in shares of Canadian Solar in the fourth quarter worth $113,000. Miracle Mile Advisors LLC bought a new position in Canadian Solar during the fourth quarter worth $133,000. Finally, Daiwa Securities Group Inc. raised 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 during the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

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.