Canadian Solar (NASDAQ:CSIQ) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $14.15 target price on the solar energy provider’s stock.

Several other research analysts have also commented on CSIQ. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Roth Mkm cut their target price on Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Oppenheimer dropped their price objective on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 23rd. Citigroup cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Finally, Glj Research lifted their target price on Canadian Solar from $9.10 to $12.28 and gave the company a “sell” rating in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Solar currently has a consensus rating of “Hold” and a consensus price target of $19.94.

Canadian Solar Stock Up 9.7 %

Canadian Solar stock opened at $13.07 on Friday. Canadian Solar has a one year low of $10.91 and a one year high of $26.85. The stock has a fifty day moving average of $13.73 and a 200 day moving average of $14.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.04. The stock has a market cap of $864.71 million, a PE ratio of 25.63, a price-to-earnings-growth ratio of 3.89 and a beta of 1.34.

Hedge Funds Weigh In On Canadian Solar

A number of large investors have recently made changes to their positions in CSIQ. Quarry LP purchased a new position in Canadian Solar during the 2nd quarter worth $31,000. Daiwa Securities Group Inc. boosted its holdings in Canadian Solar by 20.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after acquiring an additional 1,500 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Canadian Solar during the third quarter worth about $219,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canadian Solar by 43.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock valued at $232,000 after acquiring an additional 4,739 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Canadian Solar by 27.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock valued at $257,000 after purchasing an additional 3,768 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.