Canadian Solar Inc. (NASDAQ:CSIQ) Short Interest Update

Canadian Solar Inc. (NASDAQ:CSIQGet Rating) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 3,530,000 shares, a decrease of 22.1% from the March 15th total of 4,530,000 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 3.3 days. Currently, 7.7% of the shares of the stock are short sold.

Shares of CSIQ opened at $33.51 on Monday. Canadian Solar has a 52 week low of $23.25 and a 52 week high of $48.35. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 23.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 1.18. The stock has a fifty day moving average of $32.55 and a 200-day moving average of $33.15.

Canadian Solar (NASDAQ:CSIQGet Rating) last announced its earnings results on Thursday, March 17th. The solar energy provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.16). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.59 billion. Canadian Solar had a return on equity of 3.63% and a net margin of 1.80%. The firm’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share. As a group, equities analysts forecast that Canadian Solar will post 3.31 EPS for the current year.

Several research firms have weighed in on CSIQ. StockNews.com began coverage on Canadian Solar in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research note on Wednesday, March 2nd. Citigroup increased their price target on Canadian Solar from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, March 28th. Finally, JPMorgan Chase & Co. dropped their price target on Canadian Solar from $41.00 to $39.00 in a research note on Friday, March 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Canadian Solar presently has a consensus rating of “Hold” and a consensus target price of $40.86.

Large investors have recently made changes to their positions in the stock. Man Group plc raised its position in Canadian Solar by 22.0% during the 3rd quarter. Man Group plc now owns 80,822 shares of the solar energy provider’s stock worth $2,796,000 after purchasing an additional 14,561 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Canadian Solar by 33.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 62,885 shares of the solar energy provider’s stock worth $2,175,000 after acquiring an additional 15,929 shares during the period. Handelsbanken Fonder AB grew its holdings in Canadian Solar by 1.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 270,309 shares of the solar energy provider’s stock worth $9,350,000 after acquiring an additional 3,500 shares during the period. Shelton Capital Management grew its holdings in Canadian Solar by 50.0% during the 3rd quarter. Shelton Capital Management now owns 180,000 shares of the solar energy provider’s stock worth $6,226,000 after acquiring an additional 60,000 shares during the period. Finally, Cetera Advisor Networks LLC grew its holdings in Canadian Solar by 13.4% during the 3rd quarter. Cetera Advisor Networks LLC now owns 10,340 shares of the solar energy provider’s stock worth $358,000 after acquiring an additional 1,222 shares during the period. 43.70% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Company Profile (Get Rating)

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products. The company operates through two segments, Module and System Solutions (MSS), and Energy. The MSS segment engages in the design, development, manufacture, and sale of a range of solar power products, including standard solar modules, specialty solar products, and solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories.

See Also

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.