Canadian Solar Target of Unusually Large Options Trading (CSIQ)
Canadian Solar Inc. (NASDAQ:CSIQ) saw some unusual options trading on Friday. Stock investors bought 11,442 put options on the stock. This represents an increase of 766% compared to the typical volume of 1,321 put options.
Shares of Canadian Solar (NASDAQ CSIQ) traded down 0.71% during midday trading on Monday, reaching $16.72. The company had a trading volume of 160,500 shares. The company has a 50-day moving average price of $16.38 and a 200 day moving average price of $14.49. Canadian Solar has a one year low of $10.25 and a one year high of $18.12. The company has a market capitalization of $968.87 million, a P/E ratio of 39.62 and a beta of 3.15.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. Canadian Solar had a return on equity of 1.71% and a net margin of 1.01%. The company had revenue of $692.37 million for the quarter, compared to the consensus estimate of $631.05 million. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. Equities analysts anticipate that Canadian Solar will post $1.62 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cipher Capital LP increased its holdings in shares of Canadian Solar by 214.7% during the second quarter. Cipher Capital LP now owns 97,581 shares of the solar energy provider’s stock valued at $1,553,000 after acquiring an additional 66,571 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Canadian Solar by 2.1% in the 1st quarter. California Public Employees Retirement System now owns 143,600 shares of the solar energy provider’s stock worth $1,762,000 after purchasing an additional 2,900 shares during the last quarter. Calamos Advisors LLC purchased a new position in shares of Canadian Solar in the 2nd quarter worth about $4,474,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Canadian Solar by 233.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,599 shares of the solar energy provider’s stock worth $535,000 after purchasing an additional 30,523 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Canadian Solar by 16.6% in the 2nd quarter. First Trust Advisors LP now owns 60,070 shares of the solar energy provider’s stock worth $956,000 after purchasing an additional 8,567 shares during the last quarter. 41.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on CSIQ. BidaskClub downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Barclays PLC lowered Canadian Solar from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $12.00 to $14.00 in a report on Monday, August 21st. Cowen and Company set a $13.00 price objective on Canadian Solar and gave the company a “hold” rating in a research note on Monday, July 10th. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Axiom Securities restated a “buy” rating on shares of Canadian Solar in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.12.
Canadian Solar Company Profile
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.
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