Canadian Solar Inc. (NASDAQ:CSIQ) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, August 9th.
CSIQ has been the subject of a number of other research reports. Axiom Securities restated a “buy” rating on shares of Canadian Solar in a report on Saturday, July 22nd. Cowen and Company boosted their price objective on Canadian Solar from $10.00 to $13.00 and gave the company a “market perform” rating in a report on Wednesday, June 7th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $31.00 price objective on shares of Canadian Solar in a report on Thursday, April 20th. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, ValuEngine cut Canadian Solar from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Canadian Solar presently has a consensus rating of “Hold” and a consensus target price of $17.46.
Shares of Canadian Solar (NASDAQ:CSIQ) traded up 1.40% during mid-day trading on Wednesday, reaching $16.63. The company’s stock had a trading volume of 1,007,123 shares. The company has a 50-day moving average price of $16.57 and a 200 day moving average price of $14.08. The company has a market cap of $963.66 million, a PE ratio of 39.41 and a beta of 3.09. Canadian Solar has a 52-week low of $10.25 and a 52-week high of $18.12.
A number of large investors have recently modified their holdings of CSIQ. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Canadian Solar during the second quarter worth $323,000. Tower Research Capital LLC TRC purchased a new stake in shares of Canadian Solar during the second quarter worth $463,000. State Street Corp raised its position in Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after buying an additional 1,227 shares during the last quarter. Quentec Asset Management LLC raised its position in Canadian Solar by 18.6% in the second quarter. Quentec Asset Management LLC now owns 2,703,253 shares of the solar energy provider’s stock valued at $43,036,000 after buying an additional 424,601 shares during the last quarter. Finally, Virtu KCG Holdings LLC bought a new position in Canadian Solar during the second quarter valued at approximately $472,000. 34.97% of the stock is owned by institutional investors and hedge funds.
About Canadian Solar
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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