Canadian Solar (NASDAQ:CSIQ)‘s stock had its “buy” rating reiterated by equities researchers at Roth Capital in a report released on Monday, Zacks.com reports.
Other research analysts have also issued reports about the stock. Cascend Securities reiterated a “buy” rating and issued a $30.00 target price (up from $25.00) on shares of Canadian Solar in a research report on Friday, August 16th. BidaskClub downgraded Canadian Solar from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 2nd. Finally, ValuEngine raised Canadian Solar from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 28th. Two 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. The stock has an average rating of “Hold” and a consensus price target of $25.50.
CSIQ stock opened at $16.74 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.95. Canadian Solar has a one year low of $13.46 and a one year high of $25.89. The stock has a market cap of $971.79 million, a PE ratio of 5.10, a P/E/G ratio of 0.23 and a beta of 2.05. The firm has a 50 day simple moving average of $16.78 and a two-hundred day simple moving average of $19.95.
A number of hedge funds and other institutional investors have recently modified their holdings of CSIQ. Bank of Montreal Can raised its stake in shares of Canadian Solar by 59.4% during the second quarter. Bank of Montreal Can now owns 2,951 shares of the solar energy provider’s stock worth $65,000 after acquiring an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Canadian Solar in the 2nd quarter valued at $68,000. C M Bidwell & Associates Ltd. boosted its stake in shares of Canadian Solar by 30.0% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 4,530 shares of the solar energy provider’s stock valued at $99,000 after purchasing an additional 1,045 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Canadian Solar by 14.7% in the 2nd quarter. Advisor Group Inc. now owns 4,896 shares of the solar energy provider’s stock valued at $107,000 after purchasing an additional 629 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Canadian Solar by 210.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,585 shares of the solar energy provider’s stock valued at $165,000 after purchasing an additional 5,142 shares during the last quarter. Institutional investors and hedge funds own 39.82% of the company’s stock.
About Canadian Solar
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
See Also: Lock-Up Period Expiration
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.