Shares of Canadian Solar Inc. (NASDAQ:CSIQ) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.00 and last traded at $13.13, with a volume of 4,157,423 shares traded. The stock had previously closed at $14.45.

A number of analysts have issued reports on the company. Vetr downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating and set a $14.42 target price for the company. in a research report on Tuesday. Roth Capital reissued a “buy” rating and issued a $20.00 target price on shares of Canadian Solar in a research report on Monday. Morgan Stanley downgraded Canadian Solar from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $24.00 to $12.80 in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $29.00 target price on shares of Canadian Solar in a research report on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.82.

The firm has a market capitalization of $748.82 million and a price-to-earnings ratio of 5.74. The company has a 50-day moving average of $14.86 and a 200-day moving average of $17.75.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Wednesday, May 11th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.25. The firm had revenue of $721.40 million for the quarter, compared to the consensus estimate of $663.74 million. Canadian Solar’s quarterly revenue was down 16.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 earnings per share. On average, equities analysts predict that Canadian Solar Inc. will post $1.96 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in CSIQ. Russell Frank Co boosted 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 last quarter. BNP Paribas Arbitrage SA boosted 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 last quarter. California Public Employees Retirement System boosted 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 last quarter. Finally, Morgan Stanley boosted its position in Canadian Solar by 214.9% in the fourth quarter. Morgan Stanley now owns 523,185 shares of the company’s stock valued at $15,152,000 after buying an additional 357,042 shares during the last quarter.

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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