Canadian Solar Inc. (NASDAQ:CSIQ) shot up 5.6% on Monday . The stock traded as high as $15.46 and last traded at $14.99, with a volume of 3,834,780 shares trading hands. The stock had previously closed at $14.20.

Several research firms recently weighed in on CSIQ. Zacks Investment Research cut shares of Canadian Solar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 10th. FBR & Co reiterated a “buy” rating and issued a $32.00 target price on shares of Canadian Solar in a research note on Monday, June 27th. Vetr cut shares of Canadian Solar from a “strong-buy” rating to a “buy” rating and set a $19.06 target price for the company. in a research note on Wednesday, May 11th. Canaccord Genuity reiterated a “buy” rating and issued a $29.00 target price on shares of Canadian Solar in a research note on Wednesday, June 29th. Finally, Roth Capital reiterated a “buy” rating and issued a $28.00 target price on shares of Canadian Solar in a research note on Sunday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $29.16.

The firm’s 50 day moving average price is $15.06 and its 200 day moving average price is $17.90. The company has a market capitalization of $818.24 million and a price-to-earnings ratio of 6.28.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Wednesday, May 11th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.25. The company earned $721.40 million during the quarter, compared to analyst estimates of $663.74 million. During the same quarter last year, the company posted $1.04 EPS. The firm’s quarterly revenue was down 16.2% on a year-over-year basis. On average, equities research analysts expect that Canadian Solar Inc. will post $2.02 EPS for the current year.

Other hedge funds and institutional investors recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of Canadian Solar by 1.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 75,036 shares of the company’s stock worth $2,173,000 after buying an additional 1,156 shares during the period. Globeflex Capital L P bought a new position in shares of Canadian Solar during the fourth quarter worth approximately $17,330,000. Deere & Co. bought a new position in shares of Canadian Solar during the fourth quarter worth approximately $1,913,000. Morgan Stanley raised its position in shares of Canadian Solar by 214.9% in the fourth quarter. Morgan Stanley now owns 523,185 shares of the company’s stock worth $15,152,000 after buying an additional 357,042 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Canadian Solar by 0.3% in the fourth quarter. California Public Employees Retirement System now owns 181,200 shares of the company’s stock worth $5,248,000 after buying an additional 500 shares during the period.

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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