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 recently issued reports on the stock. Vetr downgraded shares of Canadian Solar from a “strong-buy” rating to a “buy” rating and set a $19.06 price objective for the company. in a report on Tuesday, May 17th. FBR & Co restated a “buy” rating on shares of Canadian Solar in a report on Thursday, May 12th. Roth Capital restated a “buy” rating and set a $28.00 price objective on shares of Canadian Solar in a report on Sunday, May 15th. Canaccord Genuity restated a “buy” rating and set a $29.00 price objective (down previously from $30.00) on shares of Canadian Solar in a report on Saturday, May 14th. Finally, Zacks Investment Research downgraded shares of Canadian Solar from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.82.

The stock’s 50 day moving average is $14.70 and its 200 day moving average is $17.68. The company has a market capitalization of $740.85 million and a price-to-earnings ratio of 5.68.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data 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 business earned $721.40 million during the quarter, compared to analysts’ expectations of $663.74 million. The firm’s quarterly revenue was down 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that Canadian Solar Inc. will post $1.96 EPS for the current year.

Several hedge funds have recently modified their holdings of CSIQ. Russell Frank Co boosted its stake in shares of 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 stake 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 valued at $2,173,000 after buying an additional 1,156 shares during the last quarter. California Public Employees Retirement System boosted its stake 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 valued at $5,248,000 after buying an additional 500 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of 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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