Several other brokerages have also recently commented on CSIQ. Cfra upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and upped their target price for the company from $20.00 to $22.00 in a research report on Friday, May 29th. Oppenheimer reiterated a “buy” rating and set a $25.00 target price on shares of Canadian Solar in a research report on Thursday, May 28th. Finally, ValuEngine cut shares of Canadian Solar from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Canadian Solar currently has an average rating of “Hold” and an average price target of $26.60.
NASDAQ:CSIQ traded down $0.25 during trading hours on Friday, hitting $18.89. 920 shares of the stock were exchanged, compared to its average volume of 1,004,293. The company’s 50 day moving average is $18.29 and its two-hundred day moving average is $19.28. Canadian Solar has a twelve month low of $12.00 and a twelve month high of $25.35. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1.13 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 0.26 and a beta of 1.59.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CSIQ. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Canadian Solar by 18.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,836 shares of the solar energy provider’s stock valued at $77,000 after buying an additional 736 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Canadian Solar in the 1st quarter valued at $85,000. Belpointe Asset Management LLC bought a new stake in shares of Canadian Solar in the 4th quarter valued at $140,000. Tower Research Capital LLC TRC increased its position in shares of Canadian Solar by 46.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 10,000 shares of the solar energy provider’s stock valued at $159,000 after buying an additional 3,172 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Canadian Solar in the 1st quarter valued at $198,000. Institutional investors and hedge funds own 40.47% 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.
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