Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.67.
Several equities research analysts have issued reports on CSIQ shares. Zacks Investment Research cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 28th. Cowen restated a “hold” rating and set a $17.00 price target on shares of Canadian Solar in a research report on Sunday, October 22nd. JPMorgan Chase & Co. lowered Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 price target for the company. in a research report on Tuesday, December 12th. Axiom Securities lowered Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research report on Friday, December 15th. Finally, Roth Capital upgraded Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, November 10th.
Canadian Solar (CSIQ) traded down $0.09 during mid-day trading on Monday, reaching $17.10. The company’s stock had a trading volume of 482,500 shares, compared to its average volume of 1,247,887. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95. The firm has a market capitalization of $983.72, a PE ratio of 41.71, a price-to-earnings-growth ratio of 0.68 and a beta of 3.08. Canadian Solar has a one year low of $10.86 and a one year high of $19.09.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J&P China Capital Management CO. Ltd. purchased a new position in Canadian Solar in the third quarter valued at $11,792,000. Quentec Asset Management LLC boosted its holdings 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 purchasing an additional 424,601 shares during the period. Calamos Advisors LLC purchased a new position in Canadian Solar in the second quarter valued at $4,474,000. Delta Lloyd Asset Management N.V. purchased a new position in Canadian Solar in the second quarter valued at $3,662,000. Finally, Quantitative Investment Management LLC purchased a new position in Canadian Solar in the second quarter valued at $2,803,000. Institutional investors and hedge funds own 42.08% 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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