Canadian Solar (NASDAQ:CSIQ) Rating Increased to Hold at Wall Street Zen

Canadian Solar (NASDAQ:CSIQ) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Other analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a research note on Friday, March 27th. Roth Mkm reduced their price target on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Oppenheimer reduced their price target on shares of Canadian Solar from $38.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Freedom Capital raised shares of Canadian Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Wells Fargo & Company reduced their price target on shares of Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Canadian Solar presently has an average rating of “Hold” and an average price target of $18.36.

Canadian Solar Trading Up 2.6%

Shares of CSIQ opened at $12.63 on Friday. The stock has a market cap of $845.83 million, a price-to-earnings ratio of -5.05 and a beta of 1.37. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.02 and a quick ratio of 0.83. Canadian Solar has a 1-year low of $6.85 and a 1-year high of $34.59. The firm has a 50 day simple moving average of $17.03 and a 200-day simple moving average of $19.86.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Saturday, February 14th. The solar energy provider reported ($1.66) EPS for the quarter. The business had revenue of $1.22 billion for the quarter. Canadian Solar had a negative net margin of 1.86% and a negative return on equity of 4.95%. Equities analysts forecast that Canadian Solar will post -0.23 EPS for the current fiscal year.

Institutional Trading of Canadian Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Canadian Solar during the second quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd lifted its stake in Canadian Solar by 335.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock valued at $42,000 after purchasing an additional 2,463 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Canadian Solar during the fourth quarter valued at approximately $48,000. Quarry LP acquired a new stake in Canadian Solar during the fourth quarter valued at approximately $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Canadian Solar by 7.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after purchasing an additional 312 shares during the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Company Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.