Shares of Canadian Solar Inc. (NASDAQ:CSIQ) were down 3.7% during mid-day trading on Wednesday . The stock traded as low as $15.06 and last traded at $15.30, with a volume of 1,505,668 shares changing hands. The stock had previously closed at $15.89.

Several analysts have issued reports on CSIQ shares. Canaccord Genuity reaffirmed a “buy” rating and set a $29.00 target price on shares of Canadian Solar in a research report on Wednesday, June 29th. Barclays PLC started coverage on Canadian Solar in a research report on Monday, April 4th. They set an “overweight” rating and a $24.00 target price on the stock. FBR & Co reaffirmed a “buy” rating and set a $32.00 target price on shares of Canadian Solar in a research report on Monday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 target price on shares of Canadian Solar in a research report on Tuesday, March 29th. Finally, Roth Capital reaffirmed a “buy” rating and set a $28.00 target price (down previously from $40.00) on shares of Canadian Solar in a research report on Tuesday, March 15th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Canadian Solar presently has an average rating of “Buy” and a consensus target price of $29.16.

The stock has a market capitalization of $867.17 million and a P/E ratio of 6.65. The stock has a 50-day moving average price of $16.49 and a 200 day moving average price of $18.98.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Wednesday, May 11th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.25. The business earned $721.40 million during the quarter, compared to analyst estimates of $663.74 million. During the same quarter last year, the firm earned $1.04 EPS. The business’s revenue was down 16.2% on a year-over-year basis. Equities research analysts forecast that Canadian Solar Inc. will post $2.36 earnings per share for the current fiscal year.

Several institutional investors have bought and sold shares of CSIQ. Russell Frank Co increased its position in Canadian Solar by 26.7% in the fourth quarter. Russell Frank Co now owns 64,652 shares of the company’s stock valued at $1,852,000 after buying an additional 13,642 shares during the period. Deere & Co. acquired a new position in Canadian Solar during the fourth quarter valued at approximately $1,913,000. BNP Paribas Arbitrage SA increased its position in Canadian Solar by 1.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 75,036 shares of the company’s stock valued at $2,173,000 after buying an additional 1,156 shares during the period. GAM Holding AG increased its position in Canadian Solar by 42.3% in the fourth quarter. GAM Holding AG now owns 123,650 shares of the company’s stock valued at $3,581,000 after buying an additional 36,760 shares during the period. Finally, California Public Employees Retirement System increased its position in Canadian Solar by 0.3% in the fourth quarter. California Public Employees Retirement System now owns 181,200 shares of the company’s stock valued at $5,248,000 after buying an additional 500 shares during the period.

Canadian Solar Inc is a solar power company, which designs, develops and manufactures solar wafers, solar cells and solar power products. The Company’s solar power products include standard solar modules and specialty solar products. It has two segments: module segment and energy segment. The Company’s module segment primarily involves design, development, manufacture and sales of solar power products and solar system kits.

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