Canadian Solar Inc. (NASDAQ:CSIQ) shares traded up 5.1% during mid-day trading on Friday . The stock traded as high as $21.46 and last traded at $21.45. 1,673,853 shares changed hands during mid-day trading, an increase of 83% from the average session volume of 913,804 shares. The stock had previously closed at $20.40.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. began coverage on shares of Canadian Solar in a research note on Thursday, April 11th. They issued a “neutral” rating and a $22.00 price target for the company. ValuEngine downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Standpoint Research downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Cascend Securities raised shares of Canadian Solar from a “hold” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $27.00 in a research note on Wednesday, February 20th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.50.
The company has a market cap of $1.24 billion, a P/E ratio of 6.54, a PEG ratio of 0.28 and a beta of 2.43. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, March 21st. The solar energy provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.87 by $0.74. The firm had revenue of $901.00 million during the quarter, compared to the consensus estimate of $872.02 million. Canadian Solar had a net margin of 6.33% and a return on equity of 18.40%. The company’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, equities analysts predict that Canadian Solar Inc. will post 2.4 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Financial Gravity Wealth Inc. bought a new position in shares of Canadian Solar during the first quarter valued at about $26,000. Legal & General Group Plc bought a new position in shares of Canadian Solar during the third quarter valued at about $49,000. Quantamental Technologies LLC purchased a new position in shares of Canadian Solar during the fourth quarter valued at about $66,000. Macquarie Group Ltd. purchased a new position in shares of Canadian Solar during the fourth quarter valued at about $118,000. Finally, We Are One Seven LLC purchased a new position in shares of Canadian Solar during the fourth quarter valued at about $120,000. 38.97% of the stock is owned by hedge funds and other institutional investors.
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About Canadian Solar (NASDAQ:CSIQ)
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.
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