Canadian Solar (NASDAQ:CSIQ) Rating Lowered to “Strong Sell” at Wall Street Zen
by Doug Wharley · The Cerbat GemCanadian Solar (NASDAQ:CSIQ – Get Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.
Other research analysts have also recently issued reports about the company. Oppenheimer lowered their target price on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. 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 research report on Monday, March 23rd. Mizuho dropped their price objective on shares of Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Freedom Capital raised Canadian Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.36.
Check Out Our Latest Stock Analysis on CSIQ
Canadian Solar Price Performance
NASDAQ:CSIQ opened at $12.38 on Monday. 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 has a 52 week low of $6.96 and a 52 week high of $34.59. The stock has a market capitalization of $839.49 million, a PE ratio of -4.95 and a beta of 1.37. The stock’s 50-day moving average price is $16.03 and its 200-day moving average price is $19.86.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share (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%. As a group, equities analysts expect that Canadian Solar will post -1.44 EPS for the current fiscal year.
Hedge Funds Weigh In On Canadian Solar
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new position in shares of Canadian Solar during the fourth quarter worth about $278,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Canadian Solar during the fourth quarter worth about $1,140,000. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 acquiring an additional 13,681 shares during the period. Virtu Financial LLC acquired a new stake in shares of Canadian Solar during the 4th quarter valued at approximately $410,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Canadian Solar during the 4th quarter valued at approximately $6,013,000. Hedge funds and other 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.