Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Rating of “Hold” from Brokerages

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned a consensus rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.04.

CSIQ has been the subject of several research reports. Wells Fargo & Company cut their price target on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. StockNews.com lowered shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. The Goldman Sachs Group cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price target for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Jefferies Financial Group assumed coverage on shares of Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 price objective for the company. Finally, Mizuho assumed coverage on shares of Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 target price on the stock.

Canadian Solar Trading Down 3.6 %

Shares of Canadian Solar stock opened at $10.15 on Friday. The stock has a fifty day moving average price of $10.48 and a 200-day moving average price of $12.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The firm has a market cap of $671.51 million, a PE ratio of -84.58, a P/E/G ratio of 0.74 and a beta of 1.34. Canadian Solar has a 1 year low of $9.19 and a 1 year high of $21.05.

Institutional Investors Weigh In On Canadian Solar

Several hedge funds have recently bought and sold shares of the stock. USCF Advisers LLC lifted its holdings in shares of Canadian Solar by 66.7% during the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock worth $28,000 after acquiring an additional 1,000 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Canadian Solar by 20.3% during the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after purchasing an additional 1,500 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Canadian Solar by 1.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider’s stock worth $1,847,000 after purchasing an additional 1,522 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Canadian Solar by 184.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after purchasing an additional 3,347 shares in the last quarter. Finally, Shell Asset Management Co. increased its position in shares of Canadian Solar by 11.4% during the 4th quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider’s stock valued at $450,000 after purchasing an additional 4,134 shares during the last quarter. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.