Canadian Solar (NASDAQ:CSIQ) Lowered to “Sell” Rating by StockNews.com

Canadian Solar (NASDAQ:CSIQGet Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other research firms also recently commented on CSIQ. Wells Fargo & Company cut their price objective on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and cut their price target for the company from $14.00 to $11.00 in a report on Tuesday, December 17th. Mizuho initiated coverage on shares of Canadian Solar in a report on Friday, December 13th. They issued an “outperform” rating and a $20.00 price objective on the stock. Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $19.00 to $11.00 in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Canadian Solar in a research report on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price for the company. Five investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.31.

Read Our Latest Stock Analysis on Canadian Solar

Canadian Solar Stock Up 2.3 %

Canadian Solar stock opened at $10.48 on Friday. The firm has a market capitalization of $693.36 million, a price-to-earnings ratio of -87.33, a PEG ratio of 0.68 and a beta of 1.27. The company’s 50 day simple moving average is $11.76 and its 200 day simple moving average is $13.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. Canadian Solar has a fifty-two week low of $10.09 and a fifty-two week high of $24.32.

Canadian Solar (NASDAQ:CSIQGet Free Report) last announced its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company posted $0.32 EPS. The business’s quarterly revenue was down 18.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Canadian Solar will post -0.23 EPS for the current year.

Institutional Trading of Canadian Solar

Several hedge funds and other institutional investors have recently modified their holdings of CSIQ. Quarry LP purchased a new position in shares of Canadian Solar during the second quarter worth about $31,000. USCF Advisers LLC lifted its position in Canadian Solar by 66.7% during the fourth 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 last quarter. Daiwa Securities Group Inc. grew its stake in Canadian Solar by 20.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after buying an additional 1,500 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Canadian Solar in the 4th quarter worth $133,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Canadian Solar during the 3rd quarter valued at $219,000. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Company Profile

(Get Free Report)

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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