Canadian Solar (NASDAQ:CSIQ) Upgraded at StockNews.com

StockNews.com upgraded shares of Canadian Solar (NASDAQ:CSIQ) from a sell rating to a hold rating in a report published on Tuesday.

CSIQ has been the topic of a number of other reports. Wells Fargo & Company lowered their price objective on 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. Mizuho started coverage on shares of Canadian Solar in a research report on Friday, December 13th. They issued an “outperform” rating and a $20.00 price target on the stock. Citigroup cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price target for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. The Goldman Sachs Group lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group assumed coverage on Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 target price on the stock. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.31.

Canadian Solar Stock Down 4.1 %

CSIQ opened at $12.74 on Tuesday. Canadian Solar has a twelve month low of $10.60 and a twelve month high of $25.43. The company’s 50-day moving average price is $12.27 and its two-hundred day moving average price is $13.73. The stock has a market cap of $842.87 million, a price-to-earnings ratio of -106.17, a PEG ratio of 8.89 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. Canadian Solar’s revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, equities analysts expect that Canadian Solar will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Canadian Solar

Several large investors have recently added to or reduced their stakes in CSIQ. Sanctuary Advisors LLC raised its holdings in shares of Canadian Solar by 37.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider’s stock valued at $520,000 after acquiring an additional 8,404 shares in the last quarter. Barclays PLC raised its stake in Canadian Solar by 494.4% in the third 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 in the last quarter. State Street Corp grew its stake in Canadian Solar by 5.6% in the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after buying an additional 25,901 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Canadian Solar by 1.4% in the 3rd 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 buying an additional 1,522 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Canadian Solar in the 3rd quarter worth $1,109,000. Institutional investors own 52.36% of the company’s stock.

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.