By otakuyassine3@gmail.com 
Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) shares were down 2.5% during mid-day trading on Thursday . The company traded as low as $11.39 and last traded at $11.51. Approximately 653,384 shares were traded during trading, a decline of 63% from the average daily volume of 1,742,982 shares. The stock had previously closed at $11.81.
Analyst Upgrades and Downgrades
A number of research firms recently commented on CSIQ. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Citigroup downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on shares of Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 5th. The Goldman Sachs Group downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $14.00 to $11.00 in a research note on Tuesday, December 17th. Finally, Mizuho assumed coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 price target on the stock. Five analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.58.
Read Our Latest Analysis on CSIQ
Canadian Solar Stock Performance
The company has a 50 day moving average price of $12.51 and a 200 day moving average price of $14.03. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. The company has a market capitalization of $752.89 million, a price-to-earnings ratio of -94.83, a P/E/G ratio of 8.89 and a beta of 1.29.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. Equities research analysts predict that Canadian Solar Inc. will post 0.06 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC increased its position in shares of Canadian Solar by 37.1% during the third quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider’s stock worth $520,000 after acquiring an additional 8,404 shares in the last quarter. Barclays PLC boosted its stake in Canadian Solar by 494.4% during the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock valued at $1,932,000 after purchasing an additional 95,924 shares during the last quarter. State Street Corp increased its holdings in Canadian Solar by 5.6% during the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after purchasing an additional 25,901 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Canadian Solar by 1.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider’s stock worth $1,847,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Canadian Solar in the third quarter valued at approximately $1,109,000. Institutional investors and hedge funds 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.
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