Canadian Solar (NASDAQ:CSIQ) Cut to Sell at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen cut shares of Canadian Solar (NASDAQ:CSIQ – Free Report) from a hold rating to a sell rating in a report released on Saturday morning.
A number of other equities analysts also recently commented on CSIQ. Mizuho cut their price objective on Canadian Solar from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Roth Mkm cut their price objective on Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Oppenheimer cut their price objective on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Freedom Capital upgraded Canadian Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Canadian Solar in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.66.
View Our Latest Analysis on CSIQ
Canadian Solar Stock Performance
Canadian Solar stock opened at $12.80 on Friday. The stock’s 50-day moving average is $17.70 and its 200-day moving average is $19.91. The company has a market cap of $857.22 million, a price-to-earnings ratio of -5.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.02 and a quick ratio of 0.83. Canadian Solar has a 12 month low of $6.57 and a 12 month high of $34.59.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The solar energy provider reported ($1.66) EPS for the quarter. The firm had revenue of $1.22 billion during the quarter. Canadian Solar had a negative return on equity of 4.95% and a negative net margin of 1.86%. Equities analysts anticipate that Canadian Solar will post -0.23 earnings per share for the current year.
Institutional Investors Weigh In On Canadian Solar
A number of large investors have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in shares of Canadian Solar in the fourth quarter valued at about $278,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Canadian Solar in the fourth quarter valued at about $1,140,000. Caitong International Asset Management Co. Ltd grew its stake in Canadian Solar by 427.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 16,879 shares of the solar energy provider’s stock valued at $401,000 after purchasing an additional 13,681 shares in the last quarter. Virtu Financial LLC acquired a new stake in Canadian Solar during the 4th quarter valued at approximately $410,000. Finally, Voloridge Investment Management LLC acquired a new stake in Canadian Solar during the 4th quarter valued at approximately $6,013,000. Institutional investors and hedge funds own 52.36% of the company’s stock.
About Canadian Solar
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.