Canadian Solar (NASDAQ:CSIQ) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Canadian Solar (NASDAQ:CSIQ) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other equities research analysts have also recently commented on CSIQ. Freedom Capital raised Canadian Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Canadian Solar in a research note on Friday, March 27th. Oppenheimer decreased their price objective on shares of Canadian Solar from $38.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Mizuho lowered their target price 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. Finally, Roth Mkm cut their target price on Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.66.

Canadian Solar Stock Performance

Shares of NASDAQ:CSIQ opened at $13.36 on Friday. The firm has a fifty day moving average of $17.89 and a two-hundred day moving average of $19.85. The firm has a market capitalization of $894.72 million, a P/E ratio of -5.34 and a beta of 1.37. Canadian Solar has a 12-month low of $6.57 and a 12-month high of $34.59. The company has a quick ratio of 0.83, a current ratio of 1.02 and a debt-to-equity ratio of 0.97.

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. Canadian Solar had a negative return on equity of 4.95% and a negative net margin of 1.86%.The firm had revenue of $1.22 billion for the quarter. On average, equities analysts expect that Canadian Solar will post -0.23 EPS for the current fiscal year.

Institutional Trading of Canadian Solar

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in shares of Canadian Solar during the 4th quarter worth approximately $278,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Canadian Solar during the fourth quarter worth about $1,140,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Canadian Solar by 427.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 16,879 shares of the solar energy provider’s stock worth $401,000 after buying an additional 13,681 shares in the last quarter. Virtu Financial LLC acquired a new stake in Canadian Solar in the 4th quarter valued at $410,000. Finally, Voloridge Investment Management LLC acquired a new position in Canadian Solar during the fourth quarter worth $6,013,000. Institutional investors own 52.36% of the company’s stock.

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.