Canadian Solar (NASDAQ:CSIQ) Director Leslie Li Hsien Chang Sells 1,767 Shares

Canadian Solar Inc. (NASDAQ:CSIQ) Director Leslie Li Hsien Chang sold 1,767 shares of Canadian Solar stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total transaction of $34,368.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Canadian Solar Stock Performance

Shares of CSIQ opened at $19.05 on Thursday. The company’s 50 day moving average price is $15.29 and its 200 day moving average price is $19.90. Canadian Solar Inc. has a 52 week low of $9.41 and a 52 week high of $34.59. The company has a market capitalization of $1.29 billion, a PE ratio of -7.56 and a beta of 1.44. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 1.06.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Friday, May 15th. The solar energy provider reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.35. Canadian Solar had a negative net margin of 1.87% and a negative return on equity of 4.20%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $950.43 million. During the same period in the previous year, the firm posted ($1.07) earnings per share. The firm’s revenue was down 9.9% on a year-over-year basis. Research analysts expect that Canadian Solar Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CSIQ. Roth Mkm reduced their target price 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. Wall Street Zen upgraded shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Wells Fargo & Company reduced their target price 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, April 8th. Mizuho reduced their target price on shares of Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Finally, Oppenheimer reduced their target price 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. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $18.36.

Hedge Funds Weigh In On Canadian Solar

Several large investors have recently bought and sold shares of CSIQ. Polunin Capital Partners Ltd acquired a new position in Canadian Solar during the 4th quarter valued at $43,692,000. Two Sigma Investments LP acquired a new position in Canadian Solar during the 3rd quarter valued at $11,544,000. Bank of America Corp DE raised its stake in Canadian Solar by 292.7% during the 1st quarter. Bank of America Corp DE now owns 1,071,486 shares of the solar energy provider’s stock valued at $14,840,000 after purchasing an additional 798,610 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Canadian Solar during the 1st quarter valued at $6,921,000. Finally, JPMorgan Chase & Co. raised its stake in Canadian Solar by 206.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 571,893 shares of the solar energy provider’s stock valued at $7,457,000 after purchasing an additional 385,355 shares during the last quarter. 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.