Shares of Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) dropped 4.5% during trading on Tuesday after Roth Mkm lowered their price target on the stock from $25.00 to $20.00. Roth Mkm currently has a buy rating on the stock. Canadian Solar traded as low as $12.92 and last traded at $12.92. Approximately 98,621 shares were traded during trading, a decline of 94% from the average daily volume of 1,553,843 shares. The stock had previously closed at $13.53.
A number of other research analysts have also weighed in on the company. UBS Group decreased their price objective on Canadian Solar from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. The Goldman Sachs Group dropped their price objective on shares of Canadian Solar from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com lowered shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Oppenheimer dropped their price target on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Glj Research lifted their price objective on Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.33.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of CSIQ. Mackenzie Financial Corp raised its stake in shares of Canadian Solar by 25.4% in the 2nd quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock valued at $75,456,000 after acquiring an additional 1,037,800 shares during the period. SIR Capital Management L.P. acquired a new position in Canadian Solar during the second quarter worth $3,994,000. D. Scott Neal Inc. purchased a new position in shares of Canadian Solar during the second quarter worth $3,898,000. Foundry Partners LLC acquired a new stake in shares of Canadian Solar in the second quarter valued at $3,667,000. Finally, Schroder Investment Management Group lifted its stake in Canadian Solar by 15.7% during the 4th quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider’s stock worth $41,330,000 after acquiring an additional 213,959 shares in the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.
Canadian Solar Stock Down 3.6 %
The company has a market capitalization of $862.71 million, a PE ratio of 4.43, a PEG ratio of 0.30 and a beta of 1.29. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $15.29 and a 200 day moving average of $17.38.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The business’s revenue for the quarter was down 30.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.39 earnings per share. Equities research analysts anticipate that Canadian Solar Inc. will post 2.07 EPS for the current year.
Canadian Solar Company Profile
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.