Shares of Canadian Solar Inc. (NASDAQ:CSIQ) were down 10.3% during trading on Tuesday . The stock traded as low as $16.04 and last traded at $16.12. Approximately 3,081,000 shares changed hands during trading, an increase of 146% from the average daily volume of 1,251,511 shares. The stock had previously closed at $17.97.
Several analysts have recently commented on CSIQ shares. Zacks Investment Research raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub raised shares of Canadian Solar from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Axiom Securities reissued a “buy” rating on shares of Canadian Solar in a research report on Thursday, August 10th. Vetr raised shares of Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $19.06 price target for the company in a research report on Thursday, August 10th. Finally, Cowen set a $16.00 price target on shares of Canadian Solar and gave the company a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Canadian Solar presently has a consensus rating of “Hold” and an average price target of $20.01.
The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1,042.32, a PE ratio of 85.57, a PEG ratio of 0.71 and a beta of 3.08.
Large investors have recently modified their holdings of the business. Pacad Investment Ltd. bought a new position in Canadian Solar during the 2nd quarter valued at $115,000. Legal & General Group Plc lifted its stake in Canadian Solar by 111.1% during the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after acquiring an additional 4,100 shares in the last quarter. Columbus Circle Investors bought a new position in Canadian Solar during the 2nd quarter valued at $318,000. Dynamic Technology Lab Private Ltd bought a new position in Canadian Solar during the 2nd quarter valued at $323,000. Finally, State Street Corp lifted its stake in Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 42.52% of the company’s stock.
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Canadian Solar Company Profile
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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