Canadian Solar (NASDAQ:CSIQ) Trading Down 5.7% – Time to Sell?

Canadian Solar Inc. (NASDAQ:CSIQ) shares were down 5.7% on Monday . The stock traded as low as $15.67 and last traded at $15.7760. Approximately 482,113 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 2,853,046 shares. The stock had previously closed at $16.73.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CSIQ shares. Mizuho dropped their price objective on shares of Canadian Solar from $19.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Roth Mkm decreased their price target on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Canadian Solar in a research note on Friday, March 27th. Wells Fargo & Company decreased their price target on shares of Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Oppenheimer dropped 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 report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Canadian Solar currently has a consensus rating of “Hold” and a consensus price target of $18.36.

Canadian Solar Price Performance

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.75 and a beta of 1.44. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.83 and a current ratio of 1.02. The company has a fifty day simple moving average of $15.15 and a two-hundred day simple moving average of $19.87.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share (EPS) for the quarter. The firm had revenue of $1.22 billion for the quarter. Canadian Solar had a negative return on equity of 4.95% and a negative net margin of 1.86%. As a group, equities research analysts expect that Canadian Solar Inc. will post -1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in Canadian Solar by 646.2% during the third quarter. SG Americas Securities LLC now owns 236,289 shares of the solar energy provider’s stock worth $3,081,000 after buying an additional 204,623 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Canadian Solar by 206.6% during the third quarter. JPMorgan Chase & Co. now owns 571,893 shares of the solar energy provider’s stock worth $7,457,000 after buying an additional 385,355 shares in the last quarter. Polunin Capital Partners Ltd acquired a new stake in Canadian Solar during the fourth quarter worth about $43,692,000. GF Fund Management CO. LTD. acquired a new stake in Canadian Solar during the fourth quarter worth about $6,260,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Canadian Solar during the fourth quarter worth about $2,995,000. 52.36% of the stock is currently 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.