Canadian Solar Inc. (NASDAQ:CSIQ) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $19.06 price objective on the solar energy provider’s stock. Vetr‘s price target indicates a potential upside of 15.17% from the company’s previous close.

A number of other research firms have also commented on CSIQ. BidaskClub lowered Canadian Solar from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Cowen and Company set a $13.00 price target on Canadian Solar and gave the company a “hold” rating in a research report on Monday, July 10th. Zacks Investment Research raised Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday. Axiom Securities reaffirmed a “buy” rating on shares of Canadian Solar in a research report on Thursday. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $31.00 price target on shares of Canadian Solar in a research report on Thursday, April 20th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $16.91.

Shares of Canadian Solar (CSIQ) traded down 3.83% during trading on Thursday, hitting $16.55. The stock had a trading volume of 938,237 shares. The company has a market capitalization of $957.12 million, a PE ratio of 32.90 and a beta of 3.09. The firm has a 50-day moving average price of $16.37 and a 200 day moving average price of $13.89. Canadian Solar has a 52 week low of $10.25 and a 52 week high of $18.12.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.14. The business had revenue of $677 million for the quarter, compared to the consensus estimate of $580.45 million. Canadian Solar had a net margin of 1.04% and a return on equity of 7.12%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. Equities analysts anticipate that Canadian Solar will post $1.54 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of CSIQ. Global X Management Co. LLC increased its stake in shares of Canadian Solar by 7.5% in the first quarter. Global X Management Co. LLC now owns 22,345 shares of the solar energy provider’s stock valued at $274,000 after buying an additional 1,562 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Canadian Solar by 4.5% in the first quarter. BNP Paribas Arbitrage SA now owns 39,792 shares of the solar energy provider’s stock valued at $488,000 after buying an additional 1,700 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Canadian Solar by 2.1% in the first quarter. California Public Employees Retirement System now owns 143,600 shares of the solar energy provider’s stock valued at $1,762,000 after buying an additional 2,900 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Canadian Solar by 20.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock valued at $228,000 after buying an additional 3,100 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after buying an additional 4,100 shares in the last quarter. Institutional investors own 35.42% of the company’s stock.

About Canadian Solar

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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